Progress Software (NASDAQ:PRGS) Shares Down 7.1% – Here’s What Happened

Progress Software Corporation (NASDAQ:PRGS) fell 7.1% during mid-day trading on Tuesday . The company traded as low as $29.52 and last traded at $29.0460. 182,139 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,011,066 shares. The stock had previously closed at $31.28.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PRGS. Jefferies Financial Group dropped their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. DA Davidson restated a “buy” rating and issued a $70.00 target price on shares of Progress Software in a research note on Wednesday, February 4th. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Citigroup increased their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Wedbush reduced 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. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Stock Performance

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 firm has a market capitalization of $1.23 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.37 and a beta of 0.57. The firm’s 50 day moving average price is $38.93 and its 200-day moving average price is $41.69.

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

Insider Activity at Progress Software

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer owned 48,802 shares of the company’s stock, valued at $1,952,080. The trade was a 10.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sundar Subramanian sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total transaction of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $594,947.76. The trade was a 9.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,546 shares of company stock valued at $1,171,546 over the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in Progress Software by 0.7% in the second quarter. Russell Investments Group Ltd. now owns 37,067 shares of the software maker’s stock valued at $2,366,000 after purchasing an additional 241 shares during the period. ProShare Advisors LLC grew its holdings in shares of Progress Software by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker’s stock worth $358,000 after purchasing an additional 258 shares during the period. F m Investments LLC grew its holdings in shares of Progress Software by 0.5% during the 2nd quarter. F m Investments LLC now owns 54,408 shares of the software maker’s stock worth $3,473,000 after purchasing an additional 271 shares during the period. California State Teachers Retirement System increased its position in shares of Progress Software by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock worth $2,531,000 after purchasing an additional 333 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its holdings in Progress Software by 4.7% in the 2nd quarter. Integrated Investment Consultants LLC now owns 8,257 shares of the software maker’s stock valued at $527,000 after buying an additional 372 shares during the period.

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.