Principal Financial Group Inc. Has $37.06 Million Stock Holdings in Progress Software Corporation $PRGS

Principal Financial Group Inc. trimmed its position in Progress Software Corporation (NASDAQ:PRGS) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 843,569 shares of the software maker’s stock after selling 70,297 shares during the quarter. Principal Financial Group Inc. owned approximately 1.97% of Progress Software worth $37,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRGS. Prudential Financial Inc. boosted its holdings in shares of Progress Software by 61.2% during the 2nd quarter. Prudential Financial Inc. now owns 93,916 shares of the software maker’s stock worth $5,996,000 after buying an additional 35,660 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Progress Software by 26.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after acquiring an additional 243,950 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Progress Software during the second quarter worth approximately $411,000. Intech Investment Management LLC grew its position in shares of Progress Software by 59.0% in the second quarter. Intech Investment Management LLC now owns 44,853 shares of the software maker’s stock valued at $2,863,000 after purchasing an additional 16,651 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of Progress Software in the second quarter valued at approximately $398,000.

Progress Software Stock Up 1.7%

Shares of PRGS opened at $41.41 on Friday. The firm has a 50 day simple moving average of $42.40 and a two-hundred day simple moving average of $43.66. The company has a market cap of $1.74 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.79 and a beta of 0.59. Progress Software Corporation has a one year low of $38.54 and a one year high of $65.50. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.Progress Software’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 EPS. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. Research analysts forecast that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Activity at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 1,352 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the sale, the executive vice president owned 29,066 shares in the company, valued at $1,231,526.42. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer directly owned 48,802 shares in the company, valued at approximately $1,952,080. The trade was a 10.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PRGS shares. Wedbush reduced their price target on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Citigroup upped their price target on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. DA Davidson reiterated a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a research note on Wednesday. Jefferies Financial Group decreased their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Finally, Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.60.

Progress Software Company 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.