Progress Software Corporation $PRGS Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its position in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 133.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,221,647 shares of the software maker's stock after acquiring an additional 698,611 shares during the period. Arrowstreet Capital Limited Partnership owned about 2.90% of Progress Software worth $31,335,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. ProShare Advisors LLC boosted its holdings in shares of Progress Software by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker's stock worth $358,000 after purchasing an additional 258 shares during the last quarter. California State Teachers Retirement System increased its stake in Progress Software by 0.8% in the second quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker's stock valued at $2,531,000 after purchasing an additional 333 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in Progress Software by 0.9% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker's stock worth $2,085,000 after buying an additional 450 shares during the period. Hantz Financial Services Inc. lifted its position in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker's stock worth $32,000 after buying an additional 493 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Progress Software by 1.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 48,215 shares of the software maker's stock worth $2,055,000 after buying an additional 601 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PRGS shares. Oppenheimer decreased their target price on shares of Progress Software from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Progress Software in a research note on Tuesday, July 14th. Jefferies Financial Group decreased their price target on shares of Progress Software from $45.00 to $34.00 and set a "hold" rating on the stock in a report on Tuesday, March 31st. DA Davidson boosted their price objective on shares of Progress Software from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Finally, Wedbush dropped their price objective on Progress Software from $65.00 to $45.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Progress Software has a consensus rating of "Moderate Buy" and a consensus target price of $50.50.

Insider Buying and Selling

In related news, EVP Sundar Subramanian sold 10,597 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, the executive vice president directly owned 18,370 shares of the company's stock, valued at approximately $703,019.90. The trade was a 36.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.

Progress Software Trading Up 4.4%

NASDAQ PRGS opened at $40.37 on Wednesday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.62 and a beta of 0.82. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Corporation has a one year low of $23.82 and a one year high of $49.99. The company's 50 day moving average price is $34.10 and its 200 day moving average price is $34.35.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. During the same quarter in the prior year, the business earned $1.40 earnings per share. The business's quarterly 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, sell-side analysts predict that Progress Software Corporation will post 4.77 EPS for the current year.

Progress Software Profile

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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