Progress Software (NASDAQ:PRGS) Trading 8.1% Higher – Should You Buy?

Posted by Brenda Bartman on Sep 16th, 2026

Progress Software Corporation (NASDAQ:PRGS – Get Free Report) shot up 8.1% during trading on Monday . The company traded as high as $43.12 and last traded at $43.1650. 253,271 shares changed hands during trading, a decline of 71% from the average daily volume of 860,221 shares. The stock had previously closed at $39.92.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRGS shares. Oppenheimer reduced their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a 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 report on Wednesday, July 1st. Finally, DA Davidson boosted their price objective on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Read Our Latest Stock Analysis on Progress Software

Progress Software Stock Performance

The stock has a market cap of $1.79 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.81 and a beta of 0.82. The firm has a 50 day moving average of $41.76 and a two-hundred day moving average of $34.97. 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 issued its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same period in the previous year, the business posted $1.40 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. 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. On average, research analysts predict 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 stock in a transaction on 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 $703,019.90. This represents a 36.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. acquired a new stake in Progress Software during the first quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new position in Progress Software in the 2nd quarter valued at approximately $28,000. Parallel Advisors LLC lifted its position in shares of Progress Software by 142.0% in the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after acquiring an additional 653 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Progress Software by 194.1% in the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after acquiring an additional 493 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in shares of Progress Software by 1,042.5% during the 4th quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after purchasing an additional 1,178 shares in the last quarter.

Progress Software Company Profile

(Get Free Report)

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company’s products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.