JPMorgan Chase & Co. Has $11.90 Million Holdings in Progress Software Corporation $PRGS

JPMorgan Chase & Co. decreased its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 90.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 270,954 shares of the software maker’s stock after selling 2,548,471 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.63% of Progress Software worth $11,903,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its stake in Progress Software by 135.1% in the 1st 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. AQR Capital Management LLC boosted its stake in shares of Progress Software by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after buying an additional 6,147 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 valued at $1,321,000 after acquiring an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 acquiring an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Progress Software by 206.8% in the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after acquiring an additional 75,044 shares during the last quarter.

Insider Transactions at Progress Software

In related news, CFO Anthony Folger sold 6,000 shares of the business’s 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 completion of the sale, the chief financial officer directly owned 48,802 shares in the company, valued at $1,952,080. The trade was a 10.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sundar Subramanian sold 21,594 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total value of $813,014.10. Following the transaction, the executive vice president owned 15,542 shares in the company, valued at $585,156.30. The trade was a 58.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 30,546 shares of company stock worth $1,171,546. 3.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PRGS has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. DA Davidson cut their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup raised their target price on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, Wedbush lowered their target price on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.60.

Progress Software Stock Down 5.1%

PRGS stock opened at $27.67 on Friday. Progress Software Corporation has a 1-year low of $26.85 and a 1-year high of $65.50. The business’s 50 day simple moving average is $37.90 and its 200 day simple moving average is $41.29. 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 firm has a market capitalization of $1.16 billion, a PE ratio of 16.67, a PEG ratio of 1.28 and a beta of 0.57.

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

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.