Intech Investment Management LLC Sells 19,688 Shares of Progress Software Corporation $PRGS

Intech Investment Management LLC lowered its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 43.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,165 shares of the software maker’s stock after selling 19,688 shares during the quarter. Intech Investment Management LLC owned 0.06% of Progress Software worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PRGS. Advisors Asset Management Inc. increased its stake in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after acquiring an additional 604 shares during the last quarter. AQR Capital Management LLC lifted its stake in Progress Software by 16.9% during the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after purchasing an additional 6,147 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Progress Software by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock worth $1,321,000 after purchasing an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after purchasing an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after purchasing an additional 75,044 shares during the last quarter.

Progress Software Trading Down 0.6%

NASDAQ PRGS opened at $39.49 on Friday. The firm has a market cap of $1.66 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.73 and a beta of 0.57. Progress Software Corporation has a 1-year low of $34.57 and a 1-year high of $65.50. The stock has a 50-day moving average of $40.75 and a 200-day moving average of $42.59. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. During the same period last year, the company earned $1.33 EPS. Progress Software’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, sell-side analysts forecast that Progress Software Corporation will post 4.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wedbush decreased their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Citigroup upped their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. DA Davidson reissued a “buy” rating and set a $70.00 price target on shares of Progress Software in a research note on Wednesday, February 4th. Jefferies Financial Group lowered their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. Finally, Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.60.

Insider Activity at Progress Software

In other Progress Software news, 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 value of $240,000.00. Following the sale, the chief financial officer owned 48,802 shares of the company’s stock, valued at $1,952,080. This trade represents a 10.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sundar Subramanian sold 1,352 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $42.37, for a total transaction of $57,284.24. Following the completion of the transaction, the executive vice president owned 29,066 shares in the company, valued at $1,231,526.42. The trade was a 4.44% decrease in their position. The SEC filing for this sale provides additional information. 3.40% of the stock is currently owned by company insiders.

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.