Progress Software (NASDAQ:PRGS) Hits New 52-Week Low – Here’s Why

Shares of Progress Software Corporation (NASDAQ:PRGS) reached a new 52-week low on Thursday . The stock traded as low as $38.52 and last traded at $38.3250, with a volume of 153392 shares. The stock had previously closed at $40.95.

Analysts Set New Price Targets

Several equities research analysts recently commented on PRGS shares. Jefferies Financial Group reduced their price objective on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Progress Software in a report on Wednesday, February 4th. Wedbush dropped their target price 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. Finally, Citigroup lifted their target price on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Progress Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Stock Performance

The company has a market cap of $1.54 billion, a PE ratio of 22.01, a PEG ratio of 1.57 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 business’s 50 day moving average is $42.13 and its two-hundred day moving average is $43.29.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating 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 business had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. During the same period last year, the firm earned $1.33 earnings per share. The business’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. On average, equities research analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current year.

Insider Transactions at Progress Software

In other news, EVP Sundar Subramanian sold 1,352 shares of Progress Software stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $42.37, for a total value of $57,284.24. Following the sale, the executive vice president directly owned 29,066 shares of the company’s stock, valued at approximately $1,231,526.42. The trade was a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the transaction, the chief financial officer owned 48,802 shares of the company’s stock, valued at $1,952,080. This represents a 10.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Progress Software

Several institutional investors have recently bought and sold shares of PRGS. DLD Asset Management LP increased its stake in Progress Software by 31.5% during the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after acquiring an additional 10,300,000 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Progress Software by 8.6% in the 3rd quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after purchasing an additional 153,957 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Progress Software by 26.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after buying an additional 243,950 shares during the period. Dimensional Fund Advisors LP lifted its position in Progress Software by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock worth $50,044,000 after buying an additional 20,669 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Progress Software by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock worth $46,468,000 after buying an additional 6,095 shares during the period.

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.