Progress Software (NASDAQ:PRGS) Stock Rating Upgraded by Jefferies Financial Group

Progress Software (NASDAQ:PRGS) was upgraded by equities research analysts at Jefferies Financial Group to a “hold” rating in a research report issued to clients and investors on Friday, Zacks reports.

Several other research analysts have also issued reports on PRGS. Oppenheimer decreased their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. DA Davidson upped their price target on Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Guggenheim restated a “buy” rating and set a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Stock Performance

NASDAQ:PRGS opened at $39.34 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The firm’s fifty day simple moving average is $42.06 and its 200 day simple moving average is $35.05. The stock has a market cap of $1.61 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. Progress Software has a twelve month low of $23.82 and a twelve month high of $47.37.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. The business 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 company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior 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, research analysts predict that Progress Software will post 4.77 EPS for the current year.

Insider Buying and Selling at Progress Software

In related news, EVP Sundar Subramanian sold 10,597 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Institutional Trading of Progress Software

A number of institutional investors and hedge funds have recently modified their holdings of PRGS. Hillsdale Investment Management Inc. grew its stake in shares of Progress Software by 37.2% in the fourth 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 period. Fox Run Management L.L.C. bought a new position in Progress Software during the fourth quarter valued at approximately $1,470,000. Rice Hall James & Associates LLC boosted its holdings in Progress Software by 27.2% in the first quarter. Rice Hall James & Associates LLC now owns 452,702 shares of the software maker’s stock worth $11,612,000 after purchasing an additional 96,793 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Progress Software by 15.4% in the first quarter. Glenmede Trust Co. NA now owns 312,282 shares of the software maker’s stock worth $8,010,000 after purchasing an additional 41,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew 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 during the period.

Progress Software Company Profile

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company’s products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.