Progress Software (NASDAQ:PRGS) Trading Up 5.6% – Should You Buy?

Progress Software Corporation (NASDAQ:PRGS) shares shot up 5.6% during mid-day trading on Thursday . The stock traded as high as $28.86 and last traded at $28.86. 305,823 shares changed hands during trading, a decline of 70% from the average session volume of 1,034,559 shares. The stock had previously closed at $27.33.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PRGS. Citigroup upped their target price on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wedbush reduced their price objective on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. DA Davidson dropped their target price on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group cut their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.60.

Progress Software Trading Up 5.0%

The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The company has a market cap of $1.21 billion, a PE ratio of 17.30, a PEG ratio of 1.26 and a beta of 0.57. The stock has a 50 day moving average price of $38.38 and a 200 day moving average price of $41.48.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $253.00 million for 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 firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm 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. Sell-side analysts predict that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Transactions at Progress Software

In related news, 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 transaction of $61,248.00. Following the sale, the executive vice president owned 15,542 shares of the company’s stock, valued at $594,947.76. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anthony Folger sold 6,000 shares of the company’s 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 in the company, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,546 shares of company stock worth $1,171,546 over the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Progress Software

Several large investors have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC bought a new stake in shares of Progress Software in the 2nd quarter worth approximately $41,000. Hantz Financial Services Inc. increased its position in Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after buying an additional 493 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in Progress Software during the 4th quarter valued at approximately $42,000. Osaic Holdings Inc. raised its stake in Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after buying an additional 637 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in 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 buying an additional 604 shares during 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.