Healthcare of Ontario Pension Plan Trust Fund Trims Stock Holdings in Progress Software Corporation $PRGS

Healthcare of Ontario Pension Plan Trust Fund lessened its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 97.8% during the 1st quarter, Holdings Channel reports. The firm owned 1,207 shares of the software maker’s stock after selling 54,115 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Progress Software were worth $31,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. purchased a new position in shares of Progress Software in the first quarter worth about $26,000. Parallel Advisors LLC boosted its position 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 buying an additional 653 shares during the last quarter. Hantz Financial Services Inc. boosted 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 valued at $32,000 after buying an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Progress Software in the 4th quarter worth approximately $42,000. Finally, Advisors Asset Management Inc. increased its holdings 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 worth $54,000 after buying an additional 604 shares during the period.

Insider Buying and Selling

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

Progress Software Trading Up 2.2%

Progress Software stock opened at $41.50 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 12 month low of $23.82 and a 12 month high of $47.37. The stock’s 50 day simple moving average is $35.05 and its two-hundred day simple moving average is $34.31. The firm has a market cap of $1.70 billion, a PE ratio of 20.15, a P/E/G ratio of 1.70 and a beta of 0.80.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. During the same period in the previous year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. 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. Analysts anticipate that Progress Software Corporation will post 4.77 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PRGS. Oppenheimer decreased their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Guggenheim reiterated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. DA Davidson raised their target price on shares of Progress Software from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Progress Software in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

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.