Progress Software (NASDAQ:PRGS) Trading Up 13.1% – Should You Buy?

Progress Software Corporation (NASDAQ:PRGS) shares shot up 13.1% on Friday . The company traded as high as $40.60 and last traded at $41.19. 962,286 shares traded hands during trading, an increase of 5% from the average session volume of 919,630 shares. The stock had previously closed at $36.42.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. DA Davidson reiterated a “buy” rating and issued a $70.00 target price on shares of Progress Software in a research note on Wednesday, February 4th. Wedbush reduced their price target on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. Jefferies Financial Group dropped their price objective 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. Finally, Citigroup lifted their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Four 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, Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Stock Performance

The stock has a market capitalization of $1.70 billion, a P/E ratio of 24.30, a PEG ratio of 1.57 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 company’s fifty day simple moving average is $41.45 and its two-hundred day simple moving average is $42.95.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. During the same quarter in the previous year, the company posted $1.33 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. 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. As a group, equities analysts forecast that Progress Software Corporation will post 4.01 EPS for the current year.

Insider Activity

In related news, EVP Sundar Subramanian sold 1,352 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were 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 approximately $1,231,526.42. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of Progress Software 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 completion of the sale, 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently added to or reduced their stakes in the stock. DLD Asset Management LP raised its holdings in Progress Software by 31.5% in the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after acquiring an additional 10,300,000 shares in the last quarter. LSV Asset Management raised 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 purchasing an additional 619,800 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Progress Software during the third quarter worth about $16,324,000. Marshall Wace LLP lifted its position in Progress Software by 732.6% during the third quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock worth $15,700,000 after purchasing an additional 314,459 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its stake in Progress Software by 145.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock worth $20,410,000 after buying an additional 275,205 shares in the last quarter.

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.