508,608 Shares in Progress Software Corporation $PRGS Bought by Oaktop Capital Management II L.P.

Oaktop Capital Management II L.P. purchased a new position in Progress Software Corporation (NASDAQ:PRGS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 508,608 shares of the software maker’s stock, valued at approximately $17,079,000. Progress Software makes up 0.7% of Oaktop Capital Management II L.P.’s holdings, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Progress Software by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock worth $31,659,000 after purchasing an additional 121,314 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Progress Software by 133.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after buying an additional 698,611 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 worth $46,468,000 after acquiring an additional 6,095 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Progress Software by 15.0% during the first quarter. The Manufacturers Life Insurance Company now owns 1,070,327 shares of the software maker’s stock valued at $27,454,000 after acquiring an additional 139,257 shares in the last quarter. Finally, LSV Asset Management grew 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 acquiring an additional 619,800 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have commented on PRGS shares. DA Davidson boosted their price target on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Finally, Oppenheimer decreased their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Progress Software has an average rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Trading Down 2.0%

Shares of PRGS opened at $42.86 on Tuesday. The company’s fifty day moving average is $37.29 and its 200 day moving average is $34.43. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $47.37. The stock has a market capitalization of $1.76 billion, a PE ratio of 20.81, a P/E/G ratio of 1.84 and a beta of 0.80. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Progress Software’s revenue 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. Sell-side analysts expect that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the transaction, the executive vice president owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. This trade represents a 36.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

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.