Pacer Advisors Inc. Boosts Holdings in Progress Software Corporation $PRGS

Key Points

• Pacer Advisors increased its Progress Software holdings by 14,333.9% in the first quarter, reaching 259,378 shares valued at approximately $6.65 million. Other institutional investors, including Arrowstreet, LSV Asset Management and Goldman Sachs, also expanded their positions.
• Progress Software reported quarterly EPS of $1.62, exceeding estimates of $1.46, while revenue rose 6.8% year over year to $253.47 million. The company issued FY 2026 EPS guidance of $6.09–$6.21.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $50.50, compared with shares trading near $42.25; price targets range from $45 to $83.

Pacer Advisors Inc. increased its holdings in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 14,333.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 259,378 shares of the software maker's stock after purchasing an additional 257,581 shares during the period. Pacer Advisors Inc. owned approximately 0.62% of Progress Software worth $6,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in Progress Software by 133.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker's stock worth $31,335,000 after purchasing an additional 698,611 shares during the last quarter. LSV Asset Management increased its holdings in shares of Progress Software by 171.2% in the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker's stock worth $42,178,000 after buying an additional 619,800 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Progress Software in the 3rd quarter valued at about $16,324,000. Marshall Wace LLP boosted its holdings in Progress Software by 732.6% during the 3rd quarter. Marshall Wace LLP now owns 357,384 shares of the software maker's stock valued at $15,700,000 after acquiring an additional 314,459 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Progress Software by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker's stock worth $28,894,000 after acquiring an additional 241,515 shares during the last quarter.

Progress Software Stock Up 1.0%

Shares of Progress Software stock opened at $42.25 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 12-month low of $23.82 and a 12-month high of $47.37. The company has a market cap of $1.73 billion, a P/E ratio of 20.51, a PEG ratio of 1.76 and a beta of 0.81. The company's fifty day simple moving average is $35.55 and its two-hundred day simple moving average is $34.33.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted 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. The firm had revenue of $253.47 million during the quarter, compared to analysts' expectations of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.40 EPS. 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. Research analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PRGS shares. Guggenheim reissued a "buy" rating and set a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Progress Software in a report on Tuesday, July 14th. Oppenheimer dropped their price target on shares of Progress Software from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Wednesday, July 1st. Finally, DA Davidson raised their price target on shares of Progress Software from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Progress Software has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the sale, the executive vice president directly owned 18,370 shares in the company, valued at $703,019.90. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

About Progress Software

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source