125,119 Shares in Progress Software Corporation $PRGS Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in Progress Software Corporation (NASDAQ:PRGS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 125,119 shares of the software maker’s stock, valued at approximately $4,201,000. Corient Private Wealth LP owned approximately 0.31% of Progress Software at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PRGS. Hillsdale Investment Management Inc. raised its stake in Progress Software by 37.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock worth $5,359,000 after buying an additional 33,800 shares during the period. Dana Investment Advisors Inc. acquired a new stake in Progress Software in the fourth quarter valued at approximately $6,011,000. LSV Asset Management grew its stake in Progress Software by 171.2% in 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 during the period. Fox Run Management L.L.C. bought a new stake in shares of Progress Software during the fourth quarter valued at approximately $1,470,000. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Progress Software by 27.2% during the first quarter. Rice Hall James & Associates LLC now owns 452,702 shares of the software maker’s stock valued at $11,612,000 after acquiring an additional 96,793 shares in the last quarter.

Insider Activity

In other 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 sale, the executive vice president owned 18,370 shares in the company, valued at $703,019.90. This represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

Progress Software Stock Up 3.4%

PRGS stock opened at $46.27 on Tuesday. Progress Software Corporation has a twelve month low of $23.82 and a twelve month high of $47.37. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The stock’s 50 day moving average is $40.00 and its 200-day moving average is $34.61. The firm has a market capitalization of $1.90 billion, a PE ratio of 22.46, a P/E/G ratio of 1.88 and a beta of 0.80.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $242.74 million. During the same quarter in the prior year, the company posted $1.40 earnings per share. Progress Software’s revenue was up 6.8% compared to the same quarter last year. 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 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Oppenheimer cut their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. DA Davidson upped their price objective on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.17.

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.