Progress Software Corporation $PRGS Shares Sold by Swedbank AB

Swedbank AB reduced its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 41.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 433,580 shares of the software maker’s stock after selling 302,068 shares during the period. Swedbank AB’s holdings in Progress Software were worth $11,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRGS. Advisors Asset Management Inc. raised its stake in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 shares during the period. AQR Capital Management LLC boosted its stake in shares of Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after purchasing an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Progress Software by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after purchasing an additional 1,454 shares during the period. Goldman Sachs Group Inc. grew its holdings in Progress Software by 75.6% during the 1st 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 in the last quarter. Finally, Jane Street Group LLC grew its holdings in 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 in the last quarter.

Insider Buying and Selling

In related news, EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the sale, the executive vice president directly owned 18,370 shares of the company’s stock, valued at $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company’s stock.

Progress Software Stock Down 1.7%

PRGS traded down $0.64 during trading on Friday, hitting $37.86. The company had a trading volume of 348,380 shares, compared to its average volume of 976,570. Progress Software Corporation has a 1-year low of $23.82 and a 1-year high of $51.28. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $1.55 billion, a PE ratio of 18.38, a P/E/G ratio of 1.62 and a beta of 0.82. The business has a 50-day moving average of $31.56 and a 200-day moving average of $34.73.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.16. The company had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $1.40 EPS. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. As a group, analysts forecast that Progress Software Corporation will post 4.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRGS shares. Wedbush cut their price objective on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Jefferies Financial Group lowered their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Citigroup dropped their target price on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Oppenheimer cut their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Finally, Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

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.