Rice Hall James & Associates LLC Purchases 96,793 Shares of Progress Software Corporation $PRGS

Key Points

• Rice Hall James & Associates increased its stake in Progress Software by 27.2% in the first quarter, buying 96,793 additional shares and bringing its holdings to 452,702 shares worth about $11.6 million.
• Progress Software beat earnings expectations in its latest quarterly report, posting EPS of $1.62 versus the $1.46 estimate and revenue of $253.47 million, up 6.8% year over year.
• Analysts remain mostly positive on PRGS, with five Buy ratings, one Hold, and one Sell; the stock has an average “Moderate Buy” rating and a consensus price target of $50.50.

Rice Hall James & Associates LLC boosted its position in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) by 27.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 452,702 shares of the software maker's stock after acquiring an additional 96,793 shares during the quarter. Rice Hall James & Associates LLC owned 1.08% of Progress Software worth $11,612,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position 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. Globeflex Capital L P purchased a new stake in shares of Progress Software during the 1st quarter valued at about $325,000. First Trust Advisors LP lifted its stake in shares of Progress Software by 179.8% in the 1st quarter. First Trust Advisors LP now owns 77,978 shares of the software maker's stock worth $2,000,000 after purchasing an additional 50,112 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Progress Software by 10.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker's stock worth $31,659,000 after purchasing an additional 121,314 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker's stock worth $29,000 after buying an additional 653 shares during the last quarter.

Insider Buying and Selling at Progress Software

In other news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction on 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 of the company's stock, valued at $703,019.90. This represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

Progress Software Stock Up 2.5%

NASDAQ PRGS opened at $37.85 on Friday. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $51.28. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $1.55 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The stock's 50-day moving average price is $33.68 and its 200-day moving average price is $34.43.

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

Analyst Ratings Changes

Several analysts recently issued reports on PRGS shares. Guggenheim restated a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Wednesday, July 1st. Citigroup decreased their price target on shares of Progress Software from $60.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. Wedbush dropped their price target on shares of Progress Software from $65.00 to $45.00 and set an "outperform" rating on the stock in a research note 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 report on Thursday. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Progress Software in a research note on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.50.

Progress Software Company 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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