Progress Software (NASDAQ:PRGS) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Progress Software Corporation (NASDAQ:PRGS) reached a new 52-week low during trading on Tuesday after Wedbush lowered their price target on the stock from $65.00 to $45.00. Wedbush currently has an outperform rating on the stock. Progress Software traded as low as $26.25 and last traded at $26.60, with a volume of 478089 shares. The stock had previously closed at $28.27.

Several other research analysts have also recently commented on PRGS. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. DA Davidson lowered their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Jefferies Financial Group cut their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Oppenheimer reduced their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Citigroup raised their price target on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

Insider Activity at Progress Software

In related news, EVP Sundar Subramanian sold 21,594 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total transaction of $813,014.10. Following the transaction, the executive vice president directly owned 15,542 shares in the company, valued at $585,156.30. This trade represents a 58.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of Progress Software 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 completion of the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This represents a 10.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,546 shares of company stock valued at $1,171,546. Insiders own 3.60% of the company’s stock.

Trending Headlines about Progress Software

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Q1 results beat consensus and management raised EPS guidance — Progress reported revenue of roughly $247.8–$248.0M (up ~4.1% YoY) and GAAP EPS that topped the Street; management also raised its EPS outlook, signaling confidence in margins and free cash flow. Progress Software Reports Fiscal First Quarter 2026
• Positive Sentiment: Shares reacted positively in aftermarket/early trading after the print — multiple outlets note a share bump following the earnings beat and guidance lift, reflecting investor enthusiasm for the quarter’s top-line stability and margin improvement. Progress Software beats Q1, guidance estimates, shares jump 5%
• Positive Sentiment: New product launch targets AI-driven demand — Progress released Sitefinity Generative CMS to deliver AI-powered search, personalization and conversational experiences with built?in governance, positioning the company to capture enterprise AI DX (digital experience) spend. This is strategically aligned with market appetite for secure, governable AI tools. Sitefinity Generative CMS press release
• Neutral Sentiment: Earnings call and highlights provide color on product mix and cost control — Transcripts and highlights show management emphasizing enterprise renewals, margin expansion and cash generation but offer limited new guidance details beyond the raised EPS target. Useful for modeling revenue cadence but no dramatic guidance change. Q1 earnings highlights
• Neutral Sentiment: Full call transcript is available for deeper read — analysts and investors can review Q&A on churn, renewal timing and product roadmap to refine estimates. Earnings call transcript
• Negative Sentiment: Insider selling and mixed analyst expectations — Recent filings show insider sales and some analysts/quant services note institutional trimming and varied price targets; that could cap near-term upside if volumes continue. QuiverQuant summary (insider/holding data)
• Negative Sentiment: Balance sheet and valuation risks — Progress carries elevated leverage (debt/equity ~2.18) and liquidity ratios below 1.0, which investors may view as a risk if growth stalls or in a macro downturn; this can limit multiple expansion despite AI tailwinds. No external link

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PRGS. Hsbc Holdings PLC raised its stake in Progress Software by 19.8% during the fourth quarter. Hsbc Holdings PLC now owns 30,893 shares of the software maker’s stock worth $1,327,000 after acquiring an additional 5,096 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Progress Software by 192.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after acquiring an additional 877 shares during the period. MidFirst Bank acquired a new position in Progress Software in the fourth quarter valued at approximately $601,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Progress Software by 61.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,736 shares of the software maker’s stock valued at $375,000 after purchasing an additional 3,325 shares during the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Progress Software by 19.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,768 shares of the software maker’s stock valued at $522,000 after purchasing an additional 2,110 shares during the last quarter.

Progress Software Price Performance

The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The business has a 50-day moving average price of $37.67 and a two-hundred day moving average price of $41.17. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.22 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.03. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $246.40 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, research analysts forecast that Progress Software Corporation will post 4.01 EPS for the current year.

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.