Hsbc Holdings PLC Invests $2.85 Million in Progress Software Corporation $PRGS

Hsbc Holdings PLC bought a new stake in Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 83,759 shares of the software maker’s stock, valued at approximately $2,853,000. Hsbc Holdings PLC owned about 0.20% of Progress Software as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company purchased a new position in shares of Progress Software in the 2nd quarter worth about $40,780,000. Heron Bay Capital Management purchased a new position in shares of Progress Software during the 2nd quarter valued at about $34,011,000. Arrowstreet Capital Limited Partnership lifted its position in Progress Software by 133.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after buying an additional 698,611 shares during the last quarter. LSV Asset Management lifted its position in Progress Software by 171.2% in the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after buying an additional 619,800 shares during the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in Progress Software in the second quarter worth approximately $19,149,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRGS. Guggenheim reissued a “buy” rating and set 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 note on Tuesday, August 11th. Oppenheimer reduced their target price 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. Finally, DA Davidson boosted their price target on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Progress Software Price Performance

Shares of Progress Software stock opened at $44.76 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $39.62 and its two-hundred day simple moving average is $34.66. The stock has a market capitalization of $1.84 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. Progress Software Corporation has a one year low of $23.82 and a one year high of $47.37.

Progress Software (NASDAQ:PRGS) last announced 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 firm had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. 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. Analysts forecast that Progress Software Corporation will post 4.77 EPS for the current year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by corporate insiders.

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.