LPL Financial LLC Purchases 44,298 Shares of Progress Software Corporation $PRGS

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LPL Financial LLC increased its stake in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 1,161.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,112 shares of the software maker's stock after purchasing an additional 44,298 shares during the period. LPL Financial LLC owned 0.11% of Progress Software worth $2,478,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Integrated Investment Consultants LLC lifted its position in Progress Software by 26.3% during the 1st quarter. Integrated Investment Consultants LLC now owns 7,885 shares of the software maker's stock valued at $406,000 after purchasing an additional 1,641 shares during the period. Avantax Advisory Services Inc. lifted its position in Progress Software by 3.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,396 shares of the software maker's stock valued at $329,000 after purchasing an additional 185 shares during the period. Legato Capital Management LLC lifted its position in Progress Software by 20.4% during the 1st quarter. Legato Capital Management LLC now owns 31,841 shares of the software maker's stock valued at $1,640,000 after purchasing an additional 5,405 shares during the period. KLP Kapitalforvaltning AS lifted its position in Progress Software by 13.8% during the 1st quarter. KLP Kapitalforvaltning AS now owns 108,900 shares of the software maker's stock valued at $5,609,000 after purchasing an additional 13,200 shares during the period. Finally, Dakota Wealth Management acquired a new position in Progress Software during the 1st quarter valued at about $224,000.

Progress Software Stock Up 4.5%

Shares of NASDAQ PRGS traded up $1.99 during trading hours on Friday, hitting $46.70. The company had a trading volume of 749,312 shares, compared to its average volume of 879,162. The stock has a market capitalization of $2.01 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.43. Progress Software Corporation has a 1-year low of $42.88 and a 1-year high of $70.56. The firm's 50 day moving average is $51.50 and its 200-day moving average is $55.91.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PRGS shares. Wall Street Zen downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. DA Davidson upped their target price on shares of Progress Software from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Guggenheim restated a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Friday, June 27th. Wedbush restated an "outperform" rating and set a $75.00 target price on shares of Progress Software in a research report on Friday, June 27th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Progress Software in a research report on Friday, June 27th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.33.

Insider Buying and Selling at Progress Software

In other Progress Software news, Director Rainer Gawlick bought 1,710 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $43.48 per share, for a total transaction of $74,350.80. Following the completion of the transaction, the director directly owned 55,544 shares in the company, valued at approximately $2,415,053.12. The trade was a 3.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Anthony Folger sold 5,529 shares of Progress Software stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the completion of the transaction, the chief financial officer owned 43,559 shares in the company, valued at approximately $2,307,320.23. This represents a 11.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

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.