Q3 EPS Estimates for Progress Software Lifted by Wedbush

Progress Software Co. (NASDAQ:PRGS) – Equities research analysts at Wedbush raised their Q3 2026 earnings per share (EPS) estimates for Progress Software in a report issued on Tuesday, April 1st. Wedbush analyst D. Ives now forecasts that the software maker will post earnings per share of $1.22 for the quarter, up from their previous forecast of $1.16. Wedbush currently has a “Outperform” rating and a $75.00 target price on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.01 per share. Wedbush also issued estimates for Progress Software’s Q4 2026 earnings at $1.20 EPS.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. DA Davidson reissued a “buy” rating and set a $75.00 price target on shares of Progress Software in a research note on Tuesday, January 21st. Citigroup lifted their price target on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research note on Tuesday. Finally, StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Progress Software presently has an average rating of “Moderate Buy” and an average price target of $75.17.

Progress Software Trading Up 2.1 %

Shares of PRGS stock opened at $58.98 on Thursday. Progress Software has a 1 year low of $48.00 and a 1 year high of $70.56. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.82 and a beta of 0.88. The firm has a fifty day moving average price of $55.75 and a 200-day moving average price of $62.06.

Institutional Trading of Progress Software

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. increased its position in Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock valued at $215,000 after purchasing an additional 204 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Progress Software by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker’s stock worth $290,000 after acquiring an additional 239 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Progress Software by 0.3% during the 4th quarter. First Trust Advisors LP now owns 95,908 shares of the software maker’s stock worth $6,248,000 after purchasing an additional 281 shares during the last quarter. Bessemer Group Inc. boosted its position in Progress Software by 149.5% during the fourth quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Progress Software by 19.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after buying an additional 301 shares in the last quarter.

Insider Activity at Progress Software

In other Progress Software news, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the transaction, the insider now directly owns 7,613 shares in the company, valued at $430,895.80. This represents a 16.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares of the company’s stock, valued at $2,508,953.20. This represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock worth $984,621 in the last quarter. 3.40% of the stock is owned by company insiders.

Progress Software Company Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.