Y Intercept Hong Kong Ltd Buys New Holdings in Progress Software Corporation $PRGS

Y Intercept Hong Kong Ltd bought a new position in Progress Software Corporation (NASDAQ:PRGS) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 57,918 shares of the software maker’s stock, valued at approximately $1,486,000.

A number of other institutional investors have also recently bought and sold shares of PRGS. Advisors Asset Management Inc. raised its stake in shares of Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Progress Software by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after acquiring an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Progress Software by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after acquiring an additional 1,454 shares during the period. Goldman Sachs Group Inc. raised its position in Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after purchasing an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Progress Software by 206.8% in the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after purchasing an additional 75,044 shares in the last quarter.

Progress Software Price Performance

NASDAQ:PRGS traded down $0.64 on Friday, reaching $37.86. The stock had a trading volume of 348,380 shares, compared to its average volume of 976,570. The company has a market capitalization of $1.55 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. Progress Software Corporation has a 1-year low of $23.82 and a 1-year high of $51.28. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The stock has a fifty day moving average price of $31.56 and a 200-day moving average price of $34.73.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company 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 earnings per share. 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. Research analysts forecast that Progress Software Corporation will post 4.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRGS. Wedbush decreased their price objective on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Jefferies Financial Group cut their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Wednesday, July 1st. Finally, DA Davidson reiterated 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.67.

Insider Buying and Selling

In related news, EVP Sundar Subramanian sold 10,597 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction 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 trade represents a 36.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by company insiders.

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.