First Trust Advisors LP Grows Position in Progress Software Corporation $PRGS

Key Points

• First Trust Advisors LP increased its Progress Software stake by 179.8% in the first quarter, holding 77,978 shares valued at approximately $2 million. Several other institutional investors, including Goldman Sachs and Jane Street, also expanded their positions.
• Progress Software reported quarterly EPS of $1.62, beating estimates of $1.46, while revenue rose 6.8% year over year to $253.47 million. The company issued fiscal 2026 EPS guidance of $6.09–$6.21.
• PRGS shares opened at $42.84, up 2.5%, while analysts maintained a “Moderate Buy” consensus with an average price target of $50.50; ratings range from Buy to Sell.

First Trust Advisors LP grew its position in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 179.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,978 shares of the software maker's stock after purchasing an additional 50,112 shares during the period. First Trust Advisors LP owned approximately 0.19% of Progress Software worth $2,000,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. increased its position in Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker's stock worth $54,000 after purchasing an additional 604 shares in the last quarter. AQR Capital Management LLC lifted its position in Progress Software by 16.9% during the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker's stock valued at $2,194,000 after buying an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Progress Software by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker's stock worth $1,321,000 after buying an additional 1,454 shares during the period. Goldman Sachs Group Inc. grew its stake in Progress Software by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker's stock worth $28,894,000 after buying an additional 241,515 shares during the period. 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 worth $5,734,000 after acquiring an additional 75,044 shares in the last quarter.

Progress Software Stock Up 2.5%

Shares of NASDAQ:PRGS opened at $42.84 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 52-week low of $23.82 and a 52-week high of $47.37. The company has a 50 day moving average of $35.97 and a two-hundred day moving average of $34.40. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.80 and a beta of 0.81.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.16. The company had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. 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. As a group, analysts forecast that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Insider Transactions at Progress Software

In related news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 brokerages have recently commented on PRGS. DA Davidson raised their target price on shares of Progress Software from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Progress Software in a research report on Tuesday, July 14th. Guggenheim reiterated a "buy" rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Finally, Oppenheimer cut 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, July 1st. Five equities research 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. Based on data from MarketBeat, Progress Software has an average rating of "Moderate Buy" and an average price target of $50.50.

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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