Progress Software (NASDAQ:PRGS) Stock: Insider Anthony Folger Sells 3,067 Shares

Progress Software Corporation (NASDAQ:PRGS) CFO Anthony Folger sold 3,067 shares of Progress Software stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $40.36, for a total transaction of $123,784.12. Following the completion of the sale, the chief financial officer owned 49,984 shares of the company’s stock, valued at $2,017,354.24. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Stock Performance

Shares of PRGS traded up $1.10 during mid-day trading on Tuesday, hitting $43.35. 517,828 shares of the company traded hands, compared to its average volume of 836,698. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50-day moving average price of $41.55 and a two-hundred day moving average price of $35.85. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.25. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.71 and a beta of 0.89.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.17. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. The company had revenue of $246.01 million for the quarter, compared to the consensus estimate of $247.33 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. Equities analysts anticipate that Progress Software Corporation will post 4.78 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in Progress Software during the 2nd quarter worth approximately $40,780,000. Heron Bay Capital Management bought a new stake in shares of Progress Software during the 2nd quarter valued at $34,011,000. Arrowstreet Capital Limited Partnership raised its position in shares of Progress Software by 133.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock valued at $31,335,000 after purchasing an additional 698,611 shares during the period. Rice Hall James & Associates LLC bought a new stake in shares of Progress Software during the 2nd quarter valued at $19,149,000. Finally, Oaktop Capital Management II L.P. purchased a new position in shares of Progress Software during the 2nd quarter valued at $17,079,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PRGS shares. DA Davidson reissued a “buy” rating and set a $55.00 price target on shares of Progress Software in a report on Friday, October 2nd. Weiss Ratings raised Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Yorkville Ives started coverage on Progress Software in a report on Wednesday, October 7th. They issued an “outperform” rating and a $48.00 price objective for the company. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a research report on Friday, September 25th. Finally, Oppenheimer lowered their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.57.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.