Progress Software Corporation (NASDAQ:PRGS) Given Average Rating of “Moderate Buy” by Analysts

Progress Software Corporation (NASDAQ:PRGS) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $49.6667.

PRGS has been the subject of several research reports. Wedbush dropped their price objective on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Oppenheimer decreased their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Jefferies Financial Group lowered their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings restated a “sell (d+)” rating on shares of Progress Software in a research report on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st.

Progress Software Trading Up 3.6%

Shares of PRGS stock opened at $40.35 on Friday. Progress Software has a fifty-two week low of $23.82 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s fifty day moving average is $32.37 and its two-hundred day moving average is $34.55. The firm has a market capitalization of $1.65 billion, a P/E ratio of 19.59, a PEG ratio of 1.63 and a beta of 0.82.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. The business had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Research analysts expect that Progress Software will post 4.77 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, the executive vice president owned 18,370 shares in the company, valued at $703,019.90. The trade was a 36.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Progress Software

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in Progress Software in the 1st quarter valued at about $26,000. Parallel Advisors LLC lifted its holdings in Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after acquiring an additional 653 shares during the last quarter. Hantz Financial Services Inc. grew its position in Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after acquiring an additional 493 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Progress Software during the fourth quarter worth $42,000. Finally, Advisors Asset Management Inc. raised its position 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 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.