Progress Software (NASDAQ:PRGS) CFO Sells $240,000.00 in Stock

Progress Software Corporation (NASDAQ:PRGS) CFO Anthony Folger sold 6,000 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. The trade was a 10.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Progress Software Stock Up 1.7%

Shares of Progress Software stock opened at $41.41 on Friday. Progress Software Corporation has a twelve month low of $38.54 and a twelve month high of $65.50. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.79 and a beta of 0.59. 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 fifty day moving average price of $42.40 and a 200 day moving average price of $43.66.

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

Institutional Trading of Progress Software

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. grew its position in shares of Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after purchasing an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 worth $1,321,000 after purchasing an additional 1,454 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Progress Software by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after purchasing an additional 241,515 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Progress Software by 206.8% in the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after buying an additional 75,044 shares during the last quarter.

Wall Street Analyst Weigh In

PRGS has been the topic of a number of recent research reports. DA Davidson reissued a “buy” rating and set a $70.00 target price on shares of Progress Software in a research report on Wednesday. Wedbush cut their price objective on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Citigroup lifted their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group cut their price target 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. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and an average price target of $64.60.

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.