Systematic Financial Management LP Reduces Stock Position in Progress Software Corporation $PRGS

Systematic Financial Management LP decreased its position in Progress Software Corporation (NASDAQ:PRGS) by 2.2% in the 1st quarter, HoldingsChannel reports. The firm owned 884,790 shares of the software maker’s stock after selling 20,128 shares during the period. Systematic Financial Management LP’s holdings in Progress Software were worth $22,695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRGS. Dimensional Fund Advisors LP grew its holdings in shares of Progress Software by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock worth $31,659,000 after buying an additional 121,314 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Progress Software by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after buying an additional 6,095 shares during the period. LSV Asset Management boosted its position in Progress Software by 171.2% during the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after acquiring an additional 619,800 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Progress Software by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 931,070 shares of the software maker’s stock worth $39,999,000 after acquiring an additional 24,659 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after acquiring an additional 241,515 shares during the last quarter.

Progress Software Stock Down 2.6%

Shares of NASDAQ:PRGS opened at $36.92 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $51.28. The stock has a market capitalization of $1.51 billion, a P/E ratio of 17.92, a PEG ratio of 1.59 and a beta of 0.82. The stock has a 50-day simple moving average of $33.48 and a 200-day simple moving average of $34.41.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. During the same quarter in the prior year, the company earned $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. Equities analysts forecast that Progress Software Corporation will post 4.77 earnings per share for the current year.

Insider Activity

In other news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 18,370 shares of the company’s stock, valued at $703,019.90. This represents a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRGS. Weiss Ratings restated a “sell (d+)” rating on shares of Progress Software in a report on Tuesday, July 14th. Oppenheimer dropped their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. DA Davidson increased their target price on Progress Software from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group decreased their price target on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Finally, Guggenheim reaffirmed a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Five equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.50.

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.