Y Intercept Hong Kong Ltd Makes New Investment in Progress Software Corporation $PRGS

Y Intercept Hong Kong Ltd bought a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 117,801 shares of the software maker’s stock, valued at approximately $5,175,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRGS. DLD Asset Management LP boosted its holdings in Progress Software by 31.5% during the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after acquiring an additional 10,300,000 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Progress Software by 26.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after purchasing an additional 243,950 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Progress Software by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after purchasing an additional 241,515 shares during the period. Rice Hall James & Associates LLC grew its holdings in shares of Progress Software by 148.1% in the third quarter. Rice Hall James & Associates LLC now owns 338,941 shares of the software maker’s stock worth $14,890,000 after purchasing an additional 202,305 shares during the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Progress Software by 8.6% in the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after purchasing an additional 153,957 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PRGS shares. Wedbush decreased their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday. DA Davidson dropped their price target on Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Citigroup upped their price objective on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group lowered their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Finally, Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Price Performance

Shares of PRGS opened at $42.43 on Friday. The company has a 50 day moving average of $42.27 and a two-hundred day moving average of $44.12. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. Progress Software Corporation has a twelve month low of $38.54 and a twelve month high of $65.50. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.87 and a beta of 0.61.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The firm had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.86 million. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. As a group, analysts predict that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

More Progress Software News

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Q4 earnings beat and guidance — Progress topped EPS (1.51 vs. 1.31 est.) and raised/issued FY?2026 and Q1 guidance, supporting a rally tied to profitable growth. Read More.
• Positive Sentiment: AI demand cited as a growth driver — Multiple outlets attribute the stock’s recent pop to accelerating customer adoption of Progress’s application and AI tooling. Read More.
• Positive Sentiment: Earnings call detail and investor interest — The transcript and call notes highlight profitable growth, which underpins valuation support and institutional interest. Read More.
• Positive Sentiment: Analyst sentiment supportive — Analysts’ consensus rating is “Moderate Buy,” reinforcing investor confidence even after recent volatility. Read More.
• Positive Sentiment: Options activity surged — Unusual options volume suggests speculative/hedging flows around the post-earnings move, which can amplify intraday swings. Read More.
• Neutral Sentiment: Analyst price target cut but rating kept — Wedbush trimmed its target from $75 to $65 while maintaining an outperform stance; this reduces upside expectations but keeps buy conviction. Read More.
• Neutral Sentiment: Valuation and peer comparison notes — Several analyses (Zacks, Yahoo valuation checks) discuss PRGS relative to peers (e.g., INTU) and whether the post-earnings level still offers value. These are background items for longer-term investors. Read More.
• Neutral Sentiment: Coverage and commentary pieces — Market commentary and op-eds (Seeking Alpha, Kalkine) praise product reliability and disciplined execution; useful for sentiment but less likely to move price alone. Read More.

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.