Nomura Holdings Inc. Trims Stock Position in Progress Software Corporation $PRGS

Key Points

• Nomura Holdings Inc. has reduced its stake in Progress Software Corporation by 32.8%, now holding 312,376 shares after selling 152,446 shares in the first quarter.
• Progress Software reported a quarterly earnings per share (EPS) of $1.40, exceeding expectations and marking a 35.6% revenue increase compared to the same quarter last year.
• Analysts have mixed opinions on Progress Software, with four ratings as "Buy" and two as "Hold," resulting in a consensus rating of "Moderate Buy" and a price target of $73.33.

Nomura Holdings Inc. lessened its holdings in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 32.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 312,376 shares of the software maker's stock after selling 152,446 shares during the period. Nomura Holdings Inc. owned 0.73% of Progress Software worth $16,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Progress Software in the fourth quarter valued at about $33,000. Nisa Investment Advisors LLC lifted its holdings in shares of Progress Software by 25.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,629 shares of the software maker's stock valued at $84,000 after purchasing an additional 326 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Progress Software in the first quarter valued at about $206,000. Dakota Wealth Management purchased a new stake in shares of Progress Software in the first quarter valued at about $224,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Progress Software by 8.3% in the fourth quarter. Cetera Investment Advisers now owns 4,796 shares of the software maker's stock valued at $312,000 after purchasing an additional 367 shares in the last quarter.

Analyst Ratings Changes

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

Progress Software Stock Performance

Shares of PRGS stock opened at $46.29 on Monday. Progress Software Corporation has a one year low of $42.88 and a one year high of $70.56. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50 day moving average price of $49.81 and a 200 day moving average price of $55.50. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.19 and a beta of 0.68.

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

Insider Transactions at Progress Software

In other news, CFO Anthony Folger sold 5,529 shares of the 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 completion of the sale, the chief financial officer owned 43,559 shares of the company's stock, valued at $2,307,320.23. This represents a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rainer Gawlick acquired 1,710 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $43.48 per share, with a total value of $74,350.80. Following the transaction, the director directly owned 55,544 shares of the company's stock, valued at approximately $2,415,053.12. This represents a 3.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company's stock.

Progress Software Company 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.

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