Progress Software (NASDAQ:PRGS) Shares Down 7.1% – Time to Sell?

Progress Software Corporation (NASDAQ:PRGS) was down 7.1% during trading on Tuesday . The company traded as low as $29.52 and last traded at $29.0460. Approximately 182,139 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,011,066 shares. The stock had previously closed at $31.28.

Analysts Set New Price Targets

PRGS has been the subject of a number of recent analyst reports. Citigroup lifted their price target 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. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Jefferies Financial Group dropped their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. Wedbush cut their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Finally, DA Davidson restated a “buy” rating and set a $70.00 price target on shares of Progress Software in a research note on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software Stock Performance

The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.37 and a beta of 0.57. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a 50-day simple moving average of $38.93 and a two-hundred day simple moving average of $41.69.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. During the same quarter in the prior year, the company 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, sell-side analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total transaction of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares in the company, valued at $594,947.76. This represents a 9.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $240,000.00. Following the completion of the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. This represents a 10.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,546 shares of company stock worth $1,171,546. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after purchasing an additional 493 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Progress Software in the 2nd quarter valued at about $41,000. Kemnay Advisory Services Inc. purchased a new position in shares of Progress Software in the 4th quarter valued at about $42,000. Advisors Asset Management Inc. grew its position in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after buying an additional 604 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Progress Software by 1,042.5% during the fourth quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after buying an additional 1,178 shares during the period.

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.