Corient Private Wealth LP Invests $4.20 Million in Progress Software Corporation $PRGS

Corient Private Wealth LP bought a new stake in Progress Software Corporation (NASDAQ:PRGS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 125,119 shares of the software maker’s stock, valued at approximately $4,201,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PRGS. Hillsdale Investment Management Inc. boosted its position in Progress Software by 37.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock worth $5,359,000 after purchasing an additional 33,800 shares during the last quarter. Dana Investment Advisors Inc. purchased a new stake in shares of Progress Software during the 4th quarter valued at $6,011,000. LSV Asset Management increased its position in shares of Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after purchasing an additional 619,800 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Progress Software during the 4th quarter worth $1,470,000. Finally, Rice Hall James & Associates LLC raised its stake in shares of Progress Software by 27.2% during the 1st quarter. Rice Hall James & Associates LLC now owns 452,702 shares of the software maker’s stock worth $11,612,000 after purchasing an additional 96,793 shares during the period.

Analyst Ratings Changes

Several analysts have commented on the stock. 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. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research report on Wednesday, July 1st. DA Davidson raised 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. Finally, Oppenheimer lowered their price target 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Progress Software Stock Performance

NASDAQ PRGS opened at $46.27 on Tuesday. The firm has a market cap of $1.90 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The company’s 50 day moving average is $40.00 and its 200-day moving average is $34.61. Progress Software Corporation has a 12-month low of $23.82 and a 12-month high of $47.37.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping 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 company had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. During the same period last year, the firm earned $1.40 EPS. Progress Software’s revenue for the quarter 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. Sell-side analysts predict that Progress Software Corporation will post 4.77 earnings per share for the current year.

Insider Activity at Progress Software

In other 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 value of $405,547.19. Following the completion of the transaction, the executive vice president directly owned 18,370 shares of the company’s stock, valued at $703,019.90. This trade represents a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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.