Insider Selling: Progress Software (NASDAQ:PRGS) EVP Sells $813,014.10 in Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 21,594 shares of Progress Software stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total transaction of $813,014.10. Following the sale, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $585,156.30. This represents a 58.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, March 11th, Sundar Subramanian sold 1,600 shares of Progress Software stock. The stock was sold at an average price of $38.28, for a total value of $61,248.00.
• On Monday, January 26th, Sundar Subramanian sold 1,352 shares of Progress Software stock. The stock was sold at an average price of $42.37, for a total value of $57,284.24.

Progress Software Trading Down 3.9%

NASDAQ PRGS opened at $34.30 on Friday. Progress Software Corporation has a 12 month low of $34.25 and a 12 month high of $65.50. The stock has a 50-day simple moving average of $40.13 and a 200 day simple moving average of $42.28. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $1.44 billion, a PE ratio of 20.66, a P/E/G ratio of 1.51 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 earnings per share. 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. Research analysts forecast that Progress Software Corporation will post 4.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PRGS shares. Wedbush lowered their target price 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, January 22nd. DA Davidson reissued a “buy” rating and set a $70.00 price target on shares of Progress Software in a research report on Wednesday, February 4th. Citigroup boosted their price target on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Jefferies Financial Group dropped their price objective on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Finally, Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. DLD Asset Management LP increased its position in shares of Progress Software by 31.5% during the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after acquiring an additional 10,300,000 shares in the last quarter. LSV Asset Management lifted its position in Progress Software by 171.2% in the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after acquiring an additional 619,800 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Progress Software in the 3rd quarter worth $16,324,000. Marshall Wace LLP boosted its stake in Progress Software by 732.6% in the 3rd quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock worth $15,700,000 after purchasing an additional 314,459 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in Progress Software by 145.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock worth $20,410,000 after purchasing an additional 275,205 shares in the last quarter.

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.