Sundar Subramanian Sells 1,600 Shares of Progress Software (NASDAQ:PRGS) Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total value of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $594,947.76. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sundar Subramanian also recently made the following trade(s):

• On Tuesday, March 10th, Sundar Subramanian sold 21,594 shares of Progress Software stock. The shares were sold at an average price of $37.65, for a total value of $813,014.10.
• On Monday, January 26th, Sundar Subramanian sold 1,352 shares of Progress Software stock. The shares were sold at an average price of $42.37, for a total value of $57,284.24.

Progress Software Price Performance

Progress Software stock opened at $34.30 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50 day simple moving average of $40.13 and a 200-day simple moving average of $42.30. Progress Software Corporation has a 12 month low of $34.25 and a 12 month high of $65.50. The stock has a market capitalization of $1.44 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.57 and a beta of 0.57.

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

Institutional Investors Weigh In On Progress Software

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after acquiring an additional 493 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Progress Software in the 2nd quarter valued at about $41,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Progress Software during the 4th quarter worth about $42,000. Advisors Asset Management Inc. grew its holdings in shares of Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares during the period. Finally, TD Private Client Wealth LLC increased its position in Progress Software by 1,042.5% during the 4th quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after purchasing an additional 1,178 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PRGS shares. Jefferies Financial Group dropped their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. Wedbush dropped their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Citigroup increased 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. Finally, DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of Progress Software in a report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.60.

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.