59,475 Shares in Progress Software Corporation $PRGS Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC bought a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,475 shares of the software maker’s stock, valued at approximately $2,613,000.

Several other institutional investors also recently bought and sold shares of PRGS. Advisors Asset Management Inc. increased its position in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Progress Software by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after purchasing an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Progress Software by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock worth $1,321,000 after purchasing an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Progress Software by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after buying an additional 241,515 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after buying an additional 75,044 shares during the last quarter.

Analyst Upgrades and Downgrades

PRGS has been the subject of a number of research analyst reports. Wedbush decreased their price target on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. DA Davidson restated a “buy” rating and set a $70.00 price objective on shares of Progress Software in a report on Wednesday, February 4th. Jefferies Financial Group decreased their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Finally, Citigroup boosted their target price on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Price Performance

NASDAQ:PRGS opened at $39.49 on Friday. The stock has a market capitalization of $1.66 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57. Progress Software Corporation has a 52 week low of $34.57 and a 52 week high of $65.50. The stock’s 50-day moving average price is $40.75 and its 200-day moving average price is $42.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business 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 earned $1.33 earnings per share. The company’s quarterly 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 expect that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Transactions at Progress Software

In other news, EVP Sundar Subramanian sold 1,352 shares of the 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 completion of the sale, the executive vice president owned 29,066 shares of the company’s stock, valued at $1,231,526.42. This represents a 4.44% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 value of $240,000.00. Following the transaction, the chief financial officer owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This represents a 10.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.40% of the stock is owned by insiders.

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.