Progress Software (NASDAQ:PRGS) EVP Sells 10,597 Shares of Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 18,370 shares in the company, valued at approximately $703,019.90. This represents a 36.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Stock Performance

Shares of NASDAQ PRGS traded up $0.32 during midday trading on Monday, reaching $38.74. The company had a trading volume of 650,925 shares, compared to its average volume of 999,332. The stock has a market cap of $1.59 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.62 and a beta of 0.82. The business’s 50-day simple moving average is $30.46 and its 200 day simple moving average is $34.84. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $54.28. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. During the same quarter last year, the business posted $1.40 EPS. The company’s revenue 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, analysts forecast that Progress Software Corporation will post 4.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PRGS. Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th. Jefferies Financial Group lowered their price target on shares of Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Citigroup lowered their target price on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, DA Davidson restated a “buy” rating and set a $40.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Institutional Investors Weigh In On Progress Software

A number of large investors have recently bought and sold shares of PRGS. Geneos Wealth Management Inc. acquired a new stake in shares of Progress Software in the first quarter valued at about $26,000. Parallel Advisors LLC increased its holdings in shares of Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares during the period. Hantz Financial Services Inc. grew its position in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after buying an additional 493 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Progress Software in the 4th quarter worth approximately $42,000. Finally, Advisors Asset Management Inc. increased 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 valued at $54,000 after purchasing an additional 604 shares during the period.

About Progress Software

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.