Insider Selling: Progress Software (NASDAQ:PRGS) EVP Sells 21,594 Shares of Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 21,594 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the transaction, the executive vice president owned 15,542 shares in the company, valued at approximately $585,156.30. This represents a 58.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sundar Subramanian also recently made the following trade(s):

• On Wednesday, March 11th, Sundar Subramanian sold 1,600 shares of Progress Software stock. The stock was sold at an average price of $38.28, for a total transaction of $61,248.00.
• On Monday, January 26th, Sundar Subramanian sold 1,352 shares of Progress Software stock. The shares were sold at an average price of $42.37, for a total transaction of $57,284.24.

Progress Software Stock Down 2.1%

Shares of NASDAQ PRGS traded down $0.75 during trading on Thursday, reaching $35.69. The company had a trading volume of 566,946 shares, compared to its average volume of 1,047,218. Progress Software Corporation has a 12-month low of $34.57 and a 12-month high of $65.50. The stock has a market cap of $1.50 billion, a PE ratio of 21.50, a P/E/G ratio of 1.64 and a beta of 0.57. The business’s 50-day moving average is $40.41 and its 200 day moving average is $42.43. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. 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. As a group, equities 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 modified their holdings of the stock. Elevation Point Wealth Partners LLC acquired a new position in Progress Software in the 2nd quarter valued at about $41,000. Hantz Financial Services Inc. boosted its holdings in shares of Progress Software by 194.1% in the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after buying an additional 493 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Progress Software during the fourth quarter worth about $42,000. Osaic Holdings Inc. increased its position in Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after buying an additional 637 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRGS. Wedbush reduced their price objective on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. Jefferies Financial Group decreased 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. DA Davidson reiterated a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research note on Wednesday, February 4th. Finally, Citigroup boosted their price objective on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Progress Software currently has an average rating of “Moderate Buy” and an average target price 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.