Short Interest in Progress Software Corporation (NASDAQ:PRGS) Increases By 14.3%

Progress Software Corporation (NASDAQ:PRGS) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 4,346,139 shares, an increase of 14.3% from the February 12th total of 3,802,482 shares. Based on an average daily volume of 1,421,542 shares, the days-to-cover ratio is presently 3.1 days. Approximately 10.7% of the shares of the company are sold short. Approximately 10.7% of the shares of the company are sold short. Based on an average daily volume of 1,421,542 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup upped their target price on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Wedbush reduced their price target on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Jefferies Financial Group decreased their price objective on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. DA Davidson reiterated a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research report on Wednesday, February 4th. Finally, Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Insider Buying and Selling at Progress Software

In other news, EVP Sundar Subramanian sold 21,594 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the transaction, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $585,156.30. This represents a 58.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. The trade was a 10.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,546 shares of company stock worth $1,171,546. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DLD Asset Management LP grew its stake in Progress Software by 31.5% during the second 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 in the last quarter. Boston Trust Walden Corp raised its position in shares of Progress Software by 8.6% in the 3rd quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock valued at $85,693,000 after buying an additional 153,957 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Progress Software by 26.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after acquiring an additional 243,950 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $50,044,000 after acquiring an additional 20,669 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Progress Software by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after acquiring an additional 6,095 shares during the last quarter.

Progress Software Price Performance

Shares of NASDAQ PRGS traded down $1.02 during midday trading on Wednesday, reaching $32.61. The company’s stock had a trading volume of 58,989 shares, compared to its average volume of 1,012,859. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $1.37 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.48 and a beta of 0.57. The business’s 50 day moving average price is $39.83 and its two-hundred day moving average price is $42.06. Progress Software has a fifty-two week low of $32.51 and a fifty-two week high of $65.50.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. During the same quarter in the prior year, the business posted $1.33 earnings per share. The firm’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. On average, analysts forecast that Progress Software will post 4.01 EPS for the current fiscal year.

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.