Globeflex Capital L P Invests $425,000 in Progress Software Corporation $PRGS

Globeflex Capital L P bought a new stake in Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,655 shares of the software maker’s stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new position in Progress Software during the first quarter worth approximately $26,000. Parallel Advisors LLC raised its stake 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 period. Hantz Financial Services Inc. lifted its position in shares of 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. bought a new position in shares of Progress Software during the 4th quarter worth approximately $42,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares during the period.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. DA Davidson lifted their price objective on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Oppenheimer decreased their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.17.

Insider Activity

In related news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 18,370 shares of the company’s stock, valued at $703,019.90. This represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company’s stock.

Progress Software Price Performance

NASDAQ:PRGS opened at $43.28 on Wednesday. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $47.37. 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 firm’s 50-day simple moving average is $38.74 and its 200 day simple moving average is $34.55. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.82 and a beta of 0.81.

Progress Software (NASDAQ:PRGS) last announced 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. 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 for the quarter, compared to analyst estimates of $242.74 million. During the same quarter in the prior year, the business posted $1.40 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. 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. As a group, sell-side analysts predict that Progress Software Corporation will post 4.77 earnings per share for the current year.

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.