Progress Software Corporation $PRGS Shares Bought by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC raised its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 148.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 338,941 shares of the software maker’s stock after purchasing an additional 202,305 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Progress Software were worth $14,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. DLD Asset Management LP raised its holdings in Progress Software by 31.5% in the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after acquiring an additional 10,300,000 shares during the last quarter. Swedbank AB grew its position in shares of Progress Software by 65.8% in the first quarter. Swedbank AB now owns 728,748 shares of the software maker’s stock valued at $37,538,000 after purchasing an additional 289,122 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after purchasing an additional 241,515 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Progress Software by 29.1% during the first quarter. The Manufacturers Life Insurance Company now owns 672,685 shares of the software maker’s stock worth $34,650,000 after buying an additional 151,800 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Progress Software during the second quarter worth approximately $9,337,000.

Progress Software Price Performance

PRGS stock opened at $43.53 on Friday. The business’s 50-day moving average is $42.93 and its two-hundred day moving average is $46.84. The firm has a market capitalization of $1.87 billion, a P/E ratio of 39.57, a P/E/G ratio of 1.88 and a beta of 0.64. Progress Software Corporation has a 1 year low of $39.00 and a 1 year high of $66.56. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.44 and a quick ratio of 0.44.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Monday, September 29th. The software maker reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.20. The company had revenue of $249.80 million for the quarter, compared to the consensus estimate of $240.11 million. Progress Software had a net margin of 5.16% and a return on equity of 43.68%. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS and its Q4 2025 guidance at 1.290-1.350 EPS. Analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In other Progress Software news, CFO Anthony Folger sold 5,474 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $46.47, for a total transaction of $254,376.78. Following the sale, the chief financial officer owned 42,559 shares of the company’s stock, valued at approximately $1,977,716.73. This trade represents a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yufan Stephanie Wang sold 1,428 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $46.26, for a total transaction of $66,059.28. Following the completion of the transaction, the insider owned 668 shares of the company’s stock, valued at approximately $30,901.68. The trade was a 68.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,311 shares of company stock worth $339,332 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

PRGS has been the subject of several analyst reports. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. DA Davidson reiterated a “buy” rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday, September 30th. Citigroup upgraded shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Monday, October 13th. Jefferies Financial Group dropped their target price on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, September 30th. Finally, Wall Street Zen raised Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Progress Software Profile

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.