Progress Software (NASDAQ:PRGS) Sets New 1-Year Low After Insider Selling

Progress Software Corporation (NASDAQ:PRGS) hit a new 52-week low during trading on Friday following insider selling activity. The stock traded as low as $34.36 and last traded at $34.3560, with a volume of 84663 shares traded. The stock had previously closed at $35.69.

Specifically, EVP Sundar Subramanian sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total value of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares in the company, valued at $594,947.76. The trade was a 9.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sundar Subramanian sold 21,594 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total transaction of $813,014.10. Following the completion of the transaction, the executive vice president directly owned 15,542 shares of the company’s stock, valued at approximately $585,156.30. The trade was a 58.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

PRGS has been the topic of several analyst reports. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. Jefferies Financial Group decreased their price objective 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. 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 note on Thursday, January 22nd. DA Davidson reiterated a “buy” rating and issued a $70.00 target price on shares of Progress Software in a report on Wednesday, February 4th. Finally, Citigroup boosted their target price on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Progress Software currently has an average rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Trading Down 3.8%

The company’s 50 day simple moving average is $40.26 and its 200-day simple moving average is $42.38. The firm has a market cap of $1.45 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.60 and a beta of 0.57. 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, beating 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 firm had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. During the same quarter in the prior year, the firm posted $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, research analysts predict that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Institutional Trading of Progress Software

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