State of Wyoming Acquires Shares of 11,817 Progress Software Corporation $PRGS

State of Wyoming acquired a new stake in Progress Software Corporation (NASDAQ:PRGS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,817 shares of the software maker’s stock, valued at approximately $397,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Progress Software by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock valued at $31,659,000 after acquiring an additional 121,314 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Progress Software by 133.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after purchasing an additional 698,611 shares in the last quarter. Geode Capital Management LLC boosted its position in Progress Software by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock worth $46,468,000 after purchasing an additional 6,095 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Progress Software by 15.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,070,327 shares of the software maker’s stock worth $27,454,000 after purchasing an additional 139,257 shares during the period. Finally, LSV Asset Management grew its stake in shares of 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 during the period.

Insider Activity

In other news, EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the sale, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by company insiders.

Progress Software Stock Up 0.8%

Progress Software stock opened at $43.22 on Wednesday. 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 stock has a market capitalization of $1.77 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.80. The business has a 50 day simple moving average of $37.53 and a 200-day simple moving average of $34.44. Progress Software Corporation has a 12 month low of $23.82 and a 12 month high of $47.37.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. The firm had revenue of $253.47 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company 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. On average, analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

Analyst Ratings Changes

PRGS has been the subject of several analyst reports. DA Davidson boosted their target price on shares of Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Oppenheimer dropped their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Guggenheim reiterated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and an average price target of $52.17.

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.