Paradigm Capital Management Inc. NY Makes New $5.39 Million Investment in Progress Software Corporation $PRGS

Paradigm Capital Management Inc. NY acquired a new stake in Progress Software Corporation (NASDAQ:PRGS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 160,600 shares of the software maker’s stock, valued at approximately $5,393,000. Paradigm Capital Management Inc. NY owned about 0.39% of Progress Software as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PRGS. Cibc World Market Inc. bought a new stake in Progress Software during the 2nd quarter valued at $431,000. Sanctuary Advisors LLC purchased a new position in shares of Progress Software in the second quarter valued at about $1,671,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Progress Software during the second quarter valued at about $227,000. PEAK6 LLC bought a new position in shares of Progress Software during the second quarter valued at about $465,000. Finally, Globeflex Capital L P purchased a new stake in shares of Progress Software during the second quarter worth about $425,000.

Insider Transactions at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the firm’s 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 completion of the transaction, the executive vice president owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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

PRGS stock opened at $43.42 on Tuesday. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.37. The company has a market cap of $1.78 billion, a P/E ratio of 21.08, a PEG ratio of 1.86 and a beta of 0.81. The firm has a 50-day moving average of $38.50 and a 200 day moving average of $34.54. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data 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 return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million for the quarter, compared to analysts’ expectations of $242.74 million. During the same period in the previous year, the firm posted $1.40 EPS. The business’s 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. On average, sell-side analysts forecast that Progress Software Corporation will post 4.77 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a report on Wednesday, July 1st. DA Davidson lifted their price objective on 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 cut their price objective on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.17.

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.