Progress Software (NASDAQ:PRGS) Stock: Insider Yufan Stephanie Wang Sells 1,245 Shares

Progress Software Corporation (NASDAQ:PRGS) insider Yufan Stephanie Wang sold 1,245 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $37.00, for a total value of $46,065.00. Following the sale, the insider owned 3,487 shares of the company’s stock, valued at approximately $129,019. This represents a 26.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Stock Up 2.9%

Shares of NASDAQ PRGS opened at $38.28 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day moving average price of $41.83 and a 200-day moving average price of $35.27. The stock has a market capitalization of $1.56 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.56 and a beta of 0.89. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.25.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.17. The business had revenue of $246.01 million during the quarter, compared to the consensus estimate of $247.33 million. Progress Software had a return on equity of 42.91% and a net margin of 9.24%.The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. On average, equities research analysts forecast that Progress Software Corporation will post 4.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PRGS shares. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. DA Davidson reiterated a “buy” rating and set a $55.00 price target on shares of Progress Software in a report on Friday, October 2nd. Zacks Research raised Progress Software from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer decreased their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Progress Software currently has an average rating of “Moderate Buy” and an average target price of $52.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Progress Software by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock worth $31,659,000 after acquiring an additional 121,314 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Progress Software by 133.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock valued at $31,335,000 after purchasing an additional 698,611 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Progress Software during the second quarter worth about $40,780,000. Heron Bay Capital Management bought a new stake in Progress Software during the second quarter worth about $34,011,000. Finally, Rice Hall James & Associates LLC purchased a new position in shares of Progress Software in the 2nd quarter worth about $19,149,000.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.