Progress Software’s (PRGS) “Buy” Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Progress Software (NASDAQ:PRGS) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $70.00 target price on the software maker’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Wedbush lowered their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Jefferies Financial Group cut their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Finally, Citigroup upped their price target on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Stock Performance

Shares of PRGS opened at $42.99 on Wednesday. Progress Software has a 1 year low of $38.54 and a 1 year high of $65.50. The stock has a market capitalization of $1.81 billion, a PE ratio of 25.90, a PEG ratio of 1.82 and a beta of 0.59. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a 50-day simple moving average of $42.43 and a 200-day simple moving average of $43.62.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The firm had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. During the same quarter last year, the company earned $1.33 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. 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. On average, analysts predict that Progress Software will post 4.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer 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 filing with the SEC, which is available through this link. Also, EVP Sundar Subramanian sold 1,352 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the sale, the executive vice president directly owned 29,066 shares of the company’s stock, valued at approximately $1,231,526.42. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quaker Wealth Management LLC grew its position in Progress Software by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock valued at $29,000 after buying an additional 900 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Progress Software in the 2nd quarter worth $41,000. Advisors Asset Management Inc. boosted its holdings in shares of Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after acquiring an additional 604 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Progress Software by 1,042.5% during the fourth quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after acquiring an additional 1,178 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after purchasing an additional 637 shares in the last quarter.

About Progress Software

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.