Dimensional Fund Advisors LP Buys 121,314 Shares of Progress Software Corporation $PRGS

Key Points

• Dimensional Fund Advisors increased its Progress Software stake by 10.9% in the first quarter, purchasing 121,314 additional shares. The fund now owns 1.23 million shares, or approximately 2.93% of the company, valued at $31.7 million.
• Progress Software exceeded quarterly expectations, reporting $1.62 in EPS versus the $1.46 consensus estimate and revenue of $253.5 million, up 6.8% year over year. The company issued fiscal 2026 EPS guidance of $6.09 to $6.21.
• Analyst sentiment remains broadly positive, with five Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and a $50.50 average price target. Shares opened at $41.85, while EVP Sundar Subramanian sold 10,597 shares under a pre-arranged trading plan.

Dimensional Fund Advisors LP raised its stake in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,233,830 shares of the software maker's stock after acquiring an additional 121,314 shares during the period. Dimensional Fund Advisors LP owned approximately 2.93% of Progress Software worth $31,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. ProShare Advisors LLC increased its holdings in shares of Progress Software by 3.2% in the fourth 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 last quarter. California State Teachers Retirement System boosted its stake in Progress Software by 0.8% during the second quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker's stock valued at $2,531,000 after buying an additional 333 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in Progress Software by 0.9% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker's stock valued at $2,085,000 after buying an additional 450 shares in the last quarter. Hantz Financial Services Inc. grew its holdings 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. Finally, CANADA LIFE ASSURANCE Co increased its stake in Progress Software by 1.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 48,215 shares of the software maker's stock worth $2,055,000 after acquiring an additional 601 shares during the last quarter.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have recently commented on PRGS shares. Oppenheimer lowered their target price on Progress Software from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Wednesday, July 1st. Guggenheim reaffirmed a "buy" rating and set a $83.00 price target on shares of Progress Software in a research note on Wednesday, July 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Progress Software in a research report on Tuesday, July 14th. Finally, DA Davidson lifted their price objective 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. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Progress Software currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Progress Software Stock Up 0.8%

Shares of NASDAQ PRGS opened at $41.85 on Wednesday. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.37. The firm has a 50-day simple moving average of $35.30 and a two-hundred day simple moving average of $34.32. The company has a market cap of $1.72 billion, a P/E ratio of 20.32, a PEG ratio of 1.74 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.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The firm had revenue of $253.47 million for the quarter, compared to analysts' expectations of $242.74 million. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company'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. Research analysts anticipate that Progress Software Corporation will post 4.77 earnings per share 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.

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