Legal & General Group Plc bought a new position in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 96,017 shares of the software maker's stock, valued at approximately $3,224,000. Legal & General Group Plc owned 0.23% of Progress Software at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of PRGS. ProShare Advisors LLC lifted its stake 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 valued at $358,000 after buying an additional 258 shares during the period. California State Teachers Retirement System lifted its position in shares of 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 acquiring an additional 333 shares during the period. Moody National Bank Trust Division grew its holdings in shares of Progress Software by 1.3% during the 2nd quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker's stock worth $948,000 after purchasing an additional 357 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Progress Software by 23.9% during the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker's stock valued at $71,000 after purchasing an additional 410 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Progress Software by 0.9% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker's stock valued at $2,085,000 after purchasing an additional 450 shares in the last quarter.
Insider Buying and Selling at Progress Software
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 value of $405,547.19. Following the completion of the transaction, the executive vice president directly 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company's stock.
Wall Street Analyst Weigh In
PRGS has been the topic of a number of recent research reports. Oppenheimer decreased their price target on shares of Progress Software from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. DA Davidson lifted their target price on shares of Progress Software from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Finally, Guggenheim reissued a "buy" rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold 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 $52.17.
Read Our Latest Stock Analysis on PRGS
Progress Software Stock Performance
NASDAQ PRGS opened at $44.05 on Friday. Progress Software Corporation has a 1-year low of $23.82 and a 1-year high of $47.37. The company has a 50 day moving average of $41.10 and a 200-day moving average of $34.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.87 and a beta of 0.82.
Progress Software (NASDAQ:PRGS - Get Free Report) last announced its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same period in the previous year, the business earned $1.40 EPS. Progress Software's revenue was up 6.8% compared to the same quarter last year. 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, equities analysts forecast that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.
About Progress Software
(
Free Report)
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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