Progress Software (NASDAQ:PRGS) Sets New 12-Month Low – Should You Sell?

Shares of Progress Software Corporation (NASDAQ:PRGS) hit a new 52-week low during trading on Thursday . The stock traded as low as $38.52 and last traded at $38.3250, with a volume of 153392 shares trading hands. The stock had previously closed at $40.95.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a 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 note on Monday, January 5th. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. DA Davidson reaffirmed a “buy” rating and set a $70.00 price target on shares of Progress Software in a report on Wednesday, February 4th. Finally, Wedbush dropped their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research 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. Based on data from MarketBeat.com, Progress Software currently has an average rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Stock Performance

The company has a market cap of $1.50 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.94 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. The business has a fifty day simple moving average of $42.42 and a two-hundred day simple moving average of $43.43.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. 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, sell-side analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current year.

Insider Buying and Selling at Progress Software

In other news, EVP Sundar Subramanian sold 1,352 shares of Progress Software stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $42.37, for a total transaction of $57,284.24. Following the transaction, the executive vice president directly owned 29,066 shares of the company’s stock, valued at $1,231,526.42. The trade was a 4.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC grew its stake in Progress Software by 20.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 63,980 shares of the software maker’s stock worth $2,749,000 after acquiring an additional 11,061 shares in the last quarter. Swiss National Bank grew its stake in Progress Software by 1.2% in the fourth quarter. Swiss National Bank now owns 84,600 shares of the software maker’s stock worth $3,634,000 after purchasing an additional 1,000 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Progress Software during the 4th quarter valued at $1,470,000. LPL Financial LLC bought a new stake in shares of Progress Software in the 4th quarter valued at about $219,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Progress Software in the 4th quarter valued at $3,501,000.

Progress Software Company 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.