193,615 Shares in Progress Software Corporation $PRGS Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired a new position in Progress Software Corporation, purchasing 193,615 shares valued at approximately $9.97 million, which accounts for about 0.45% of the company's total shares.
• Progress Software reported a quarterly earnings per share of $1.40, exceeding analysts' expectations of $1.30, alongside a revenue of $237.36 million for the quarter, indicating a year-over-year growth of 35.6%.
• Several analysts have given mixed ratings on Progress Software, with Guggenheim maintaining a "buy" rating at a price target of $83.00, while Citigroup lowered their price objective from $64.00 to $57.00.

Nuveen LLC acquired a new position in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 193,615 shares of the software maker's stock, valued at approximately $9,973,000. Nuveen LLC owned about 0.45% of Progress Software at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Avantax Advisory Services Inc. lifted its stake in Progress Software by 3.0% in the first quarter. Avantax Advisory Services Inc. now owns 6,396 shares of the software maker's stock valued at $329,000 after buying an additional 185 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Progress Software by 1.8% in the first quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker's stock valued at $546,000 after buying an additional 187 shares in the last quarter. First Trust Advisors LP lifted its stake in Progress Software by 0.3% in the fourth quarter. First Trust Advisors LP now owns 95,908 shares of the software maker's stock valued at $6,248,000 after buying an additional 281 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in 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 buying an additional 326 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in 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 buying an additional 367 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PRGS. Jefferies Financial Group reaffirmed a "hold" rating on shares of Progress Software in a research note on Friday, June 27th. Wall Street Zen lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Citigroup cut their price target on shares of Progress Software from $64.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Wedbush reaffirmed an "outperform" rating and issued a $75.00 price target on shares of Progress Software in a research note on Friday, June 27th. Finally, Guggenheim reiterated a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, June 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.33.

Insider Buying and Selling

In other news, Director Rainer Gawlick bought 1,710 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $43.48 per share, for a total transaction of $74,350.80. Following the completion of the acquisition, the director owned 55,544 shares in the company, valued at approximately $2,415,053.12. This represents a 3.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 5,529 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $52.97, for a total transaction of $292,871.13. Following the transaction, the chief financial officer owned 43,559 shares in the company, valued at approximately $2,307,320.23. The trade was a 11.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Progress Software Stock Down 1.1%

Shares of NASDAQ PRGS traded down $0.53 during midday trading on Thursday, reaching $46.31. The company's stock had a trading volume of 480,686 shares, compared to its average volume of 838,326. 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 Corporation has a fifty-two week low of $42.88 and a fifty-two week high of $70.56. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.22 and a beta of 0.70. The stock has a 50 day simple moving average of $50.14 and a 200-day simple moving average of $55.61.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted 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 company had revenue of $237.36 million for the quarter, compared to the consensus estimate of $237.23 million. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The firm's revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company 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. Equities research analysts predict that Progress Software Corporation will post 4.01 earnings per share for the current year.

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.