Progress Software (NASDAQ:PRGS) Sets New 1-Year Low After Insider Selling

Progress Software Corporation (NASDAQ:PRGS) shares hit a new 52-week low during trading on Friday after an insider sold shares in the company. The stock traded as low as $34.36 and last traded at $34.3560, with a volume of 84663 shares trading hands. The stock had previously closed at $35.69.

Specifically, EVP Sundar Subramanian sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total value of $61,248.00. Following the completion of the sale, the executive vice president owned 15,542 shares in the company, valued at approximately $594,947.76. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sundar Subramanian sold 21,594 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was 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 $585,156.30. The trade was a 58.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. 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 reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a research note 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 raised their target price on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software Trading Down 3.8%

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 stock has a market capitalization of $1.45 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. The company has a 50-day moving average price of $40.26 and a 200 day moving average price of $42.38.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share 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 company had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. During the same quarter last year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. 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, research analysts forecast that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Institutional Trading of Progress Software

A number of institutional investors have recently modified their holdings of PRGS. Diamond Hill Capital Management Inc. boosted its stake in Progress Software by 145.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock valued at $20,410,000 after acquiring an additional 275,205 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Progress Software by 61.2% during the second quarter. Prudential Financial Inc. now owns 93,916 shares of the software maker’s stock worth $5,996,000 after purchasing an additional 35,660 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Progress Software by 26.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after purchasing an additional 243,950 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Progress Software by 59.0% during the 2nd quarter. Intech Investment Management LLC now owns 44,853 shares of the software maker’s stock valued at $2,863,000 after purchasing an additional 16,651 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Progress Software in the 3rd quarter worth $5,175,000.

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.