Progress Software (NASDAQ:PRGS) Reaches New 1-Year Low – Time to Sell?

Progress Software Corporation (NASDAQ:PRGS) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $34.81 and last traded at $35.05, with a volume of 831836 shares changing hands. The stock had previously closed at $36.53.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PRGS. Citigroup boosted their target price on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research note on Wednesday, February 4th. Jefferies Financial Group decreased their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Wedbush cut their price target on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. Finally, Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. Four 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software Stock Performance

The company has a market cap of $1.48 billion, a PE ratio of 21.11, a P/E/G ratio of 1.60 and a beta of 0.59. The stock’s 50 day simple moving average is $41.80 and its two-hundred day simple moving average is $43.04. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The business had revenue of $253.00 million during the quarter, compared to the consensus estimate of $252.86 million. During the same period in the prior year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. 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, research analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Insider Buying and Selling at Progress Software

In other news, EVP Sundar Subramanian sold 1,352 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the transaction, the executive vice president directly owned 29,066 shares in the company, valued at approximately $1,231,526.42. This represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progress Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRGS. AQR Capital Management LLC increased its position in shares of Progress Software by 33.7% during the fourth quarter. AQR Capital Management LLC now owns 287,082 shares of the software maker’s stock worth $12,333,000 after acquiring an additional 72,344 shares during the last quarter. Amundi grew its stake in Progress Software by 30.4% during the 4th quarter. Amundi now owns 10,383 shares of the software maker’s stock valued at $446,000 after purchasing an additional 2,419 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Progress Software by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 67,152 shares of the software maker’s stock worth $2,886,000 after purchasing an additional 1,216 shares during the last quarter. Watershed Asset Management L.L.C. purchased a new stake in Progress Software during the 4th quarter worth approximately $464,000. Finally, California State Teachers Retirement System raised its position in shares of Progress Software by 3.4% in the 4th quarter. California State Teachers Retirement System now owns 40,998 shares of the software maker’s stock valued at $1,761,000 after purchasing an additional 1,357 shares in the last quarter.

Progress Software Company 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.