Progress Software Corporation (NASDAQ:PRGS) Given Average Recommendation of “Moderate Buy” by Analysts

Progress Software Corporation (NASDAQ:PRGS) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $64.60.

PRGS has been the subject of several research reports. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. Jefferies Financial Group decreased their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of Progress Software in a research note on Wednesday, February 4th. Wedbush decreased their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Finally, Citigroup raised their price objective on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd.

Progress Software Trading Down 3.9%

Shares of PRGS stock opened at $34.30 on Friday. The business’s fifty day moving average price is $40.13 and its 200 day moving average price is $42.30. The firm has a market capitalization of $1.44 billion, a PE ratio of 20.66, a P/E/G ratio of 1.57 and a beta of 0.57. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. Progress Software has a 1-year low of $34.25 and a 1-year high of $65.50.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company had revenue of $253.00 million during the quarter, compared to the consensus estimate of $252.86 million. During the same quarter last year, the company earned $1.33 earnings per share. Progress Software’s quarterly revenue was up 17.5% compared to the same quarter last year. 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. As a group, sell-side analysts forecast that Progress Software will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Progress Software

In related news, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sundar Subramanian sold 21,594 shares of Progress Software stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total transaction of $813,014.10. Following the sale, the executive vice president directly owned 15,542 shares in the company, valued at $585,156.30. This trade represents a 58.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,546 shares of company stock valued at $1,171,546 over the last 90 days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently bought and sold shares of PRGS. Diamond Hill Capital Management Inc. boosted its holdings in Progress Software by 145.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock worth $20,410,000 after purchasing an additional 275,205 shares during the period. Prudential Financial Inc. increased its stake in shares of Progress Software by 61.2% in the second quarter. Prudential Financial Inc. now owns 93,916 shares of the software maker’s stock valued at $5,996,000 after purchasing an additional 35,660 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Progress Software by 26.1% during 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 purchasing an additional 243,950 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Progress Software by 59.0% in the second quarter. Intech Investment Management LLC now owns 44,853 shares of the software maker’s stock valued at $2,863,000 after acquiring an additional 16,651 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Progress Software in the third quarter valued at $5,175,000.

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.