Progress Software Corporation $PRGS Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 48.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 97,069 shares of the software maker’s stock after buying an additional 31,628 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Progress Software were worth $3,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRGS. Arrowstreet Capital Limited Partnership increased its position in shares of Progress Software by 133.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock valued at $31,335,000 after purchasing an additional 698,611 shares during the period. LSV Asset Management boosted its stake in Progress Software by 171.2% during the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after buying an additional 619,800 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Progress Software during the third quarter worth about $16,324,000. Marshall Wace LLP grew its holdings in Progress Software by 732.6% during the third quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock worth $15,700,000 after acquiring an additional 314,459 shares during the period. Finally, Pacer Advisors Inc. raised its position in Progress Software by 14,333.9% in the first quarter. Pacer Advisors Inc. now owns 259,378 shares of the software maker’s stock worth $6,653,000 after acquiring an additional 257,581 shares in the last quarter.

Insider Activity at Progress Software

In other news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, the executive vice president owned 18,370 shares in the company, valued at approximately $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PRGS has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Oppenheimer dropped their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Finally, DA Davidson increased their target price on shares of Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.17.

Progress Software Stock Performance

Shares of NASDAQ PRGS opened at $44.73 on Friday. The stock’s fifty day simple moving average is $36.81 and its 200 day simple moving average is $34.42. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.83 and a beta of 0.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 52-week low of $23.82 and a 52-week high of $47.37.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. During the same quarter last year, the company posted $1.40 EPS. Progress Software’s revenue for the quarter was up 6.8% on a year-over-year basis. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. As a group, sell-side analysts forecast that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Progress Software 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.