Rice Hall James & Associates LLC Invests $19.15 Million in Progress Software Corporation $PRGS

Key Points

• Rice Hall James & Associates acquired 570,261 shares of Progress Software valued at approximately $19.15 million, giving it a 1.39% stake. Other institutional investors also modestly increased their holdings.
• Progress Software exceeded quarterly expectations, reporting $1.62 in EPS versus a $1.46 consensus estimate and revenue of $253.47 million, up 6.8% year over year. The company issued fiscal 2026 EPS guidance of $6.09–$6.21.
• Analyst sentiment remains positive, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and a $52.17 price target. The stock opened at $42.86, while an executive recently sold 10,597 shares under a pre-arranged trading plan.

Rice Hall James & Associates LLC bought a new stake in Progress Software Corporation (NASDAQ:PRGS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 570,261 shares of the software maker's stock, valued at approximately $19,149,000. Rice Hall James & Associates LLC owned 1.39% of Progress Software at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PRGS. ProShare Advisors LLC increased its position in shares of Progress Software by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker's stock valued at $358,000 after purchasing an additional 258 shares during the period. California State Teachers Retirement System boosted its stake in Progress Software by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker's stock worth $2,531,000 after purchasing an additional 333 shares during the period. Moody National Bank Trust Division boosted its position in shares of Progress Software by 1.3% in the second quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker's stock worth $948,000 after buying an additional 357 shares during the period. GAMMA Investing LLC grew its stake in Progress Software by 23.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker's stock valued at $71,000 after acquiring an additional 410 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its stake in Progress Software by 0.9% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker's stock valued at $2,085,000 after buying an additional 450 shares during the period.

Insider Activity at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 18,370 shares in the company, valued at $703,019.90. This represents a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Guggenheim reaffirmed a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Oppenheimer reduced their price objective on Progress Software from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, DA Davidson increased their price target on Progress Software from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.17.

Progress Software Trading Down 2.0%

NASDAQ PRGS opened at $42.86 on Tuesday. The stock has a 50 day moving average of $37.29 and a 200-day moving average of $34.43. 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 $1.76 billion, a PE ratio of 20.81, a PEG ratio of 1.84 and a beta of 0.80. 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 (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating 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 firm had revenue of $253.47 million for the quarter, compared to analysts' expectations of $242.74 million. During the same period in the prior year, the firm earned $1.40 EPS. The business's revenue was up 6.8% on a year-over-year basis. 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, equities research analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

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.

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