30,000 Shares in Progress Software Corporation $PRGS Bought by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. acquired a new position in Progress Software Corporation (NASDAQ:PRGS) in the third quarter, HoldingsChannel.com reports. The firm acquired 30,000 shares of the software maker’s stock, valued at approximately $1,199,000.

Several other institutional investors have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Progress Software in the 2nd quarter worth $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Progress Software in the first quarter worth $26,000. Parallel Advisors LLC raised its stake in shares of Progress Software by 142.0% in the first 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 last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Progress Software by 192.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after purchasing an additional 877 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Progress Software during the second quarter valued at $61,000.

Insider Buying and Selling

In other Progress Software news, CFO Anthony Folger sold 3,067 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The shares were 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 directly owned 49,984 shares of the company’s stock, valued at approximately $2,017,354.24. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing 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. Also, insider Yufan Stephanie Wang sold 1,245 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $37.00, for a total transaction of $46,065.00. Following the completion of the transaction, the insider owned 3,487 shares in the company, valued at $129,019. The trade was a 26.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

PRGS has been the topic of several recent analyst reports. Zacks Research raised Progress Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Jefferies Financial Group raised Progress Software to a “hold” rating in a research report on Friday, September 25th. DA Davidson restated a “buy” rating and set a $55.00 target price on shares of Progress Software in a research note on Friday, October 2nd. Weiss Ratings raised shares of Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Yorkville Ives started coverage on shares of Progress Software in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $48.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Progress Software currently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Progress Software Stock Down 1.7%

PRGS stock opened at $44.12 on Wednesday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.88 and a beta of 0.87. 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 business’s 50-day moving average is $41.84 and its two-hundred day moving average is $36.85. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $47.25.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.17. Progress Software had a return on equity of 42.91% and a net margin of 9.24%. The business had revenue of $246.01 million during the quarter, compared to the consensus estimate of $247.33 million. During the same period in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue 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. As a group, analysts forecast that Progress Software Corporation will post 4.78 earnings per share for the current year.

About Progress Software

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, integrate, secure and manage business applications and digital services. Its portfolio supports application development, data connectivity, application integration, file transfer, network monitoring and digital experience management across cloud, on-premises and hybrid environments.

The company’s products include OpenEdge for developing and operating business applications; Telerik and Kendo UI development tools; DataDirect data connectivity technologies; Sitefinity digital experience software; WhatsUp Gold network monitoring; MOVEit managed file transfer; and Chef automation and infrastructure-management tools.