MidFirst Bank Invests $470,000 in Progress Software Corporation $PRGS

Posted by Stanley Muller on Aug 18th, 2026

MidFirst Bank acquired a new position in Progress Software Corporation (NASDAQ:PRGS – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,000 shares of the software maker’s stock, valued at approximately $470,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Progress Software in the fourth quarter valued at approximately $42,000. Osaic Holdings Inc. raised its holdings in shares of Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after buying an additional 637 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Progress Software during the first quarter valued at approximately $26,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after buying an additional 604 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. DA Davidson increased their price objective on Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Wednesday, July 1st. Finally, Oppenheimer decreased their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Progress Software currently has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Check Out Our Latest Report on Progress Software

Progress Software Stock Performance

Shares of NASDAQ PRGS opened at $42.86 on Tuesday. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.37. The firm has a market cap of $1.76 billion, a P/E ratio of 20.81, a PEG ratio of 1.84 and a beta of 0.80. The stock has a fifty day moving average price of $37.29 and a two-hundred day moving average price of $34.43. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81.

Progress Software (NASDAQ:PRGS – Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. The company had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 EPS. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Research analysts forecast that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the sale, the executive vice president directly owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. This represents a 36.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company’s stock.

Progress Software Profile

(Free Report)

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.