Progress Software (NASDAQ:PRGS) Reaches New 52-Week Low – Here’s Why

Progress Software Corporation (NASDAQ:PRGS)’s share price hit a new 52-week low on Thursday . The stock traded as low as $31.96 and last traded at $32.06, with a volume of 877158 shares trading hands. The stock had previously closed at $33.62.

Analysts Set New Price Targets

Several research analysts recently weighed in on PRGS shares. DA Davidson reaffirmed a “buy” rating and set a $70.00 target price on shares of Progress Software in a research note on Wednesday, February 4th. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Jefferies Financial Group reduced their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Wedbush lowered their price objective on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Finally, Citigroup boosted their target price on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.60.

Progress Software Stock Down 4.6%

The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.57. 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 business has a 50-day moving average price of $39.61 and a 200-day moving average price of $41.99.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $253.00 million during 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%.Progress Software’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the company posted $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. As a group, equities analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Insider Activity at Progress Software

In other news, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sundar Subramanian sold 21,594 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total transaction of $813,014.10. Following the sale, the executive vice president owned 15,542 shares in the company, valued at $585,156.30. This represents a 58.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,546 shares of company stock worth $1,171,546. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Progress Software

Large investors have recently added to or reduced their stakes in the company. DLD Asset Management LP lifted its holdings in shares of Progress Software by 31.5% in the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after purchasing an additional 10,300,000 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Progress Software by 8.6% during the third 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 grew 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 buying an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Progress Software by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock valued at $50,044,000 after buying an additional 20,669 shares during the period. Finally, Geode Capital Management LLC raised its position in Progress Software by 0.6% during 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 buying an additional 6,095 shares during the period.

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.