Fuller & Thaler Asset Management Inc. Sells 436,094 Shares of Progress Software Corporation $PRGS

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Progress Software by 36.3%, owning 764,976 shares valued at approximately $39.4 million as of its latest SEC filing.
• Progress Software reported a net margin of 6.63% and a 35.6% increase in revenue year-over-year during its last quarterly earnings, beating analyst estimates.
• Equities analysts hold a generally positive outlook on Progress Software, with an average rating of "Moderate Buy" and an average price target of $73.33.

Fuller & Thaler Asset Management Inc. trimmed its stake in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) by 36.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764,976 shares of the software maker's stock after selling 436,094 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 1.78% of Progress Software worth $39,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PRGS. LPL Financial LLC bought a new position in Progress Software during the 4th quarter worth approximately $248,000. Raymond James Financial Inc. purchased a new stake in Progress Software in the 4th quarter worth approximately $15,432,000. Mariner LLC lifted its holdings in Progress Software by 1.3% in the 4th quarter. Mariner LLC now owns 50,798 shares of the software maker's stock worth $3,309,000 after buying an additional 666 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Progress Software by 820.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,600 shares of the software maker's stock worth $300,000 after buying an additional 4,100 shares during the period. Finally, GeoWealth Management LLC lifted its holdings in Progress Software by 637.6% in the 4th quarter. GeoWealth Management LLC now owns 3,880 shares of the software maker's stock worth $253,000 after buying an additional 3,354 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PRGS shares. Guggenheim reiterated a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, June 27th. Wedbush reiterated an "outperform" rating and issued a $75.00 price objective on shares of Progress Software in a report on Friday, June 27th. DA Davidson increased their price objective on Progress Software from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Wall Street Zen cut Progress Software from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Progress Software in a report on Friday, June 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $73.33.

Insider Buying and Selling at Progress Software

In related news, Director Rainer Gawlick acquired 1,710 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $43.48 per share, for a total transaction of $74,350.80. Following the completion of the purchase, the director owned 55,544 shares of the company's stock, valued at $2,415,053.12. This represents a 3.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 5,529 shares of Progress Software stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the transaction, the chief financial officer owned 43,559 shares of the company's stock, valued at $2,307,320.23. The trade was a 11.26% decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Progress Software Stock Down 0.7%

NASDAQ:PRGS traded down $0.3150 during trading hours on Monday, reaching $46.3850. 82,923 shares of the company traded hands, compared to its average volume of 780,705. The business's 50-day moving average price is $51.50 and its two-hundred day moving average price is $55.90. The stock has a market capitalization of $2.00 billion, a P/E ratio of 35.26, a P/E/G ratio of 2.21 and a beta of 0.70. Progress Software Corporation has a 1 year low of $42.88 and a 1 year high of $70.56. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data on Monday, June 30th. The software maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.10. The business had revenue of $237.36 million during the quarter, compared to analysts' expectations of $237.23 million. Progress Software had a return on equity of 43.72% and a net margin of 6.63%.The firm's quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. Analysts predict that Progress Software Corporation will post 4.01 earnings per share for the current year.

Progress Software Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.