California State Teachers Retirement System Purchases 12,045 Shares of Progress Software Corporation $PRGS

California State Teachers Retirement System lifted its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 29.4% during the first quarter, Holdings Channel.com reports. The firm owned 53,043 shares of the software maker’s stock after purchasing an additional 12,045 shares during the period. California State Teachers Retirement System’s holdings in Progress Software were worth $1,361,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Hillsdale Investment Management Inc. raised its holdings in shares of Progress Software by 37.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock worth $5,359,000 after acquiring an additional 33,800 shares during the last quarter. Dana Investment Advisors Inc. acquired a new position in Progress Software during the 4th quarter valued at about $6,011,000. M&T Bank Corp acquired a new position in Progress Software during the 4th quarter valued at about $3,626,000. LSV Asset Management increased its holdings in Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after purchasing an additional 619,800 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Progress Software during the 4th quarter worth approximately $1,470,000.

Insider Activity at Progress Software

In related news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the sale, the executive vice president directly owned 18,370 shares in the company, valued at approximately $703,019.90. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

PRGS has been the topic of a number of recent research reports. Guggenheim restated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Oppenheimer decreased their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, DA Davidson raised their price objective on Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Trading Up 2.6%

Shares of PRGS stock opened at $44.73 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.83 and a beta of 0.81. Progress Software Corporation has a 52-week low of $23.82 and a 52-week high of $47.37. The company has a 50-day simple moving average of $36.81 and a two-hundred day simple moving average of $34.42.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm had revenue of $253.47 million for the quarter, compared to analysts’ expectations of $242.74 million. During the same quarter last year, the firm earned $1.40 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. 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. Research analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

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.