Pacer Advisors Inc. Buys 257,581 Shares of Progress Software Corporation $PRGS

Pacer Advisors Inc. raised its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 14,333.9% in the first quarter, Holdings Channel reports. The firm owned 259,378 shares of the software maker’s stock after acquiring an additional 257,581 shares during the quarter. Pacer Advisors Inc.’s holdings in Progress Software were worth $6,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC increased its holdings in Progress Software by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker’s stock worth $358,000 after buying an additional 258 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Progress Software by 0.8% in 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 in the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of Progress Software by 0.9% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker’s stock worth $2,085,000 after acquiring an additional 450 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of 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 purchasing an additional 493 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Progress Software by 1.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 48,215 shares of the software maker’s stock valued at $2,055,000 after buying an additional 601 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PRGS shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Progress Software in a research report on Tuesday, July 14th. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Wednesday, July 1st. DA Davidson upped their target price on shares of Progress Software from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Oppenheimer cut their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Progress Software Trading Up 1.0%

Shares of NASDAQ:PRGS opened at $42.25 on Thursday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.76 and a beta of 0.81. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $35.55 and its 200 day moving average is $34.33. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.37.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. 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 during the quarter, compared to analysts’ expectations of $242.74 million. During the same period last year, the business earned $1.40 EPS. Progress Software’s revenue for the quarter 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. On average, research analysts predict that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the sale, the executive vice president owned 18,370 shares of the company’s stock, valued at $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

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.