Analysts Set Progress Software Corporation (NASDAQ:PRGS) Price Target at $64.60

Shares of Progress Software Corporation (NASDAQ:PRGS) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $64.60.

A number of equities research analysts have recently weighed in on PRGS shares. DA Davidson restated a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a report on Wednesday, February 4th. Wedbush cut their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Citigroup raised their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group dropped their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th.

Progress Software Trading Up 10.7%

NASDAQ PRGS opened at $40.33 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. The stock’s 50-day simple moving average is $41.36 and its two-hundred day simple moving average is $42.90. Progress Software has a twelve month low of $34.57 and a twelve month high of $65.50. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 1.77 and a beta of 0.59.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 EPS. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. Research analysts forecast that Progress Software will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 1,352 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the transaction, the executive vice president owned 29,066 shares in the company, valued at approximately $1,231,526.42. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. DLD Asset Management LP lifted its holdings in Progress Software by 31.5% in the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after buying an additional 10,300,000 shares during the period. Boston Trust Walden Corp lifted its stake in Progress Software by 8.6% in the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after acquiring an additional 153,957 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Progress Software by 26.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after acquiring an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Progress Software by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock valued at $50,044,000 after purchasing an additional 20,669 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Progress Software by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock worth $46,468,000 after purchasing an additional 6,095 shares in the last quarter.

About Progress Software

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.