Rice Hall James & Associates LLC Grows Stake in Progress Software Corporation $PRGS

Rice Hall James & Associates LLC boosted its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 27.2% during the 1st quarter, Holdings Channel reports. The firm owned 452,702 shares of the software maker’s stock after buying an additional 96,793 shares during the period. Rice Hall James & Associates LLC’s holdings in Progress Software were worth $11,612,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Progress Software by 10.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock worth $31,659,000 after purchasing an additional 121,314 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Progress Software by 133.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after buying an additional 698,611 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Progress Software by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock worth $46,468,000 after buying an additional 6,095 shares in the last quarter. LSV Asset Management boosted its position in shares of 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. Finally, The Manufacturers Life Insurance Company grew its stake in Progress Software by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 931,070 shares of the software maker’s stock valued at $39,999,000 after acquiring an additional 24,659 shares in the last quarter.

Insider Activity

In other news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

Progress Software Trading Up 2.5%

Shares of PRGS opened at $37.85 on Friday. The company’s fifty day moving average is $33.68 and its 200 day moving average is $34.43. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $51.28. The stock has a market capitalization of $1.55 billion, a PE ratio of 18.37, a P/E/G ratio of 1.59 and a beta of 0.82. 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 (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating 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 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 earned $1.40 earnings per share. Progress Software’s quarterly revenue was up 6.8% compared to the same quarter last year. 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. Sell-side analysts expect that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on PRGS shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Progress Software in a report on Tuesday, July 14th. Citigroup dropped their price objective on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Oppenheimer decreased their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group dropped their price target on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Progress Software 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.