Progress Software (NASDAQ:PRGS) Upgraded at Zacks Research

Zacks Research upgraded shares of Progress Software (NASDAQ:PRGS) from a hold rating to a strong-buy rating in a report published on Monday,Zacks reports.

A number of other research firms have also weighed in on PRGS. 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. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Oppenheimer lowered 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. DA Davidson reaffirmed a “buy” rating and issued a $55.00 price target on shares of Progress Software in a research report on Friday, October 2nd. Finally, Jefferies Financial Group upgraded Progress Software to a “hold” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Progress Software Trading Up 0.0%

Shares of Progress Software stock opened at $37.21 on Monday. The stock has a market capitalization of $1.52 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. Progress Software has a 52 week low of $23.82 and a 52 week high of $47.25. The stock has a 50 day moving average price of $41.87 and a two-hundred day moving average price of $35.22. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.80 and a current ratio of 0.80.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.17. Progress Software had a return on equity of 42.91% and a net margin of 9.24%.The company had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Progress Software’s revenue for the quarter was down 1.5% on a year-over-year basis. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. As a group, equities analysts anticipate that Progress Software will post 4.78 earnings per share for the current fiscal year.

Insider Activity at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,245 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $37.00, for a total value of $46,065.00. Following the completion of the sale, the insider owned 3,487 shares in the company, valued at $129,019. This represents a 26.31% 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 corporate insiders.

Institutional Investors Weigh In On Progress Software

A number of institutional investors have recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in Progress Software in the 3rd quarter valued at about $5,146,000. QRG Capital Management Inc. boosted its stake in shares of Progress Software by 27.7% in the 2nd quarter. QRG Capital Management Inc. now owns 12,598 shares of the software maker’s stock worth $423,000 after buying an additional 2,732 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Progress Software by 203.3% in the second quarter. Tidal Investments LLC now owns 24,802 shares of the software maker’s stock valued at $833,000 after acquiring an additional 16,625 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Progress Software by 321.6% in the second quarter. Engineers Gate Manager LP now owns 54,940 shares of the software maker’s stock valued at $1,845,000 after acquiring an additional 41,910 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Progress Software during the second quarter valued at approximately $61,000.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.