JPMorgan Chase & Co. Sells 2,548,471 Shares of Progress Software Corporation $PRGS

JPMorgan Chase & Co. lessened its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 90.4% during the third quarter, Holdings Channel.com reports. The fund owned 270,954 shares of the software maker’s stock after selling 2,548,471 shares during the period. JPMorgan Chase & Co.’s holdings in Progress Software were worth $11,903,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Progress Software by 135.1% in the first 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 in the last quarter. AQR Capital Management LLC increased its holdings in Progress Software by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after buying an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Progress Software by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after buying an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after buying an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after acquiring an additional 75,044 shares during the period.

Insiders Place Their Bets

In other news, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction 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 transaction, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. The trade was a 10.95% 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 stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the completion of the sale, the executive vice president owned 15,542 shares of the company’s stock, 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. In the last quarter, insiders have sold 30,546 shares of company stock worth $1,171,546. 3.40% of the stock is owned by company insiders.

Progress Software Stock Performance

NASDAQ:PRGS opened at $27.67 on Friday. The stock’s 50-day moving average is $37.90 and its 200-day moving average is $41.29. Progress Software Corporation has a 1-year low of $26.85 and a 1-year high of $65.50. 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 cap of $1.16 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.28 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $252.86 million. During the same quarter last year, the business earned $1.33 EPS. 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 anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PRGS shares. Wedbush decreased 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 note on Thursday, January 22nd. Jefferies Financial Group cut their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, January 5th. Citigroup lifted their price target on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. DA Davidson dropped their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.60.

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.