Boston Trust Walden Corp Sells 149,422 Shares of Progress Software Corporation $PRGS

Boston Trust Walden Corp reduced its stake in Progress Software Corporation (NASDAQ:PRGS) by 8.0% during the first quarter, HoldingsChannel reports. The fund owned 1,720,324 shares of the software maker’s stock after selling 149,422 shares during the period. Boston Trust Walden Corp’s holdings in Progress Software were worth $44,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hillsdale Investment Management Inc. boosted its stake in Progress Software by 37.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock worth $5,359,000 after purchasing an additional 33,800 shares in the last quarter. Dana Investment Advisors Inc. bought a new stake in Progress Software during the 4th quarter valued at about $6,011,000. M&T Bank Corp bought a new stake in Progress Software during the 4th quarter valued at about $3,626,000. Heron Bay Capital Management raised its holdings in Progress Software by 117.1% in the third quarter. Heron Bay Capital Management now owns 254,311 shares of the software maker’s stock worth $11,172,000 after buying an additional 137,189 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Progress Software by 171.2% in the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after buying an additional 619,800 shares in the last quarter.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Wednesday. Oppenheimer lowered their price objective on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup reduced their target price on Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, Wedbush decreased their price target on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Progress Software Stock Down 1.9%

PRGS opened at $38.42 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The firm has a 50 day moving average price of $30.30 and a 200-day moving average price of $34.88. Progress Software Corporation has a twelve month low of $23.82 and a twelve month high of $54.81. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.65 and a beta of 0.82.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.17. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company had revenue of $253.47 million for the quarter, compared to analysts’ expectations of $242.74 million. During the same quarter last year, the company posted $1.40 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Equities research analysts forecast that Progress Software Corporation will post 4.74 earnings per share for the current year.

More Progress Software News

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Progress Software beat Q2 estimates and raised full-year guidance, which typically signals stronger near-term growth and better earnings momentum. Article Title
• Positive Sentiment: Analysts remained constructive after earnings, with multiple firms reiterating buy/outperform views and citing upside to current price targets. Article Title
• Positive Sentiment: Oppenheimer called the quarter “solid,” while other coverage pointed to strong revenue growth and improved outlook commentary, reinforcing the earnings-driven rally. Article Title
• Neutral Sentiment: Recent valuation-focused articles suggest PRGS still screens as reasonably valued versus peers, which may support the stock but does not by itself create a new catalyst. Article Title
• Neutral Sentiment: Company commentary also showed some caution on cash and leverage, including a goal to target net leverage around 2.8x, which investors may watch even as results improve. Article Title
• Negative Sentiment: Some longer-term commentary still points to debt and sector competition concerns, suggesting the rally may depend on continued execution rather than a clean re-rating. Article Title

About Progress Software

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.