UniSuper Management Pty Ltd Increases Stock Position in Progress Software Corporation $PRGS

Key Points

• UniSuper Management Pty Ltd increased its stake in Progress Software Corporation by 8.4%, bringing its total shares to 113,746, valued at approximately $5.86 million.
• CFO Anthony Folger sold 5,529 shares at an average price of $52.97, resulting in a 11.26% decrease in his stock position.
• Progress Software reported $1.40 EPS for the last quarter, surpassing analysts' expectations of $1.30, and set FY 2025 guidance at 5.280-5.400 EPS.

UniSuper Management Pty Ltd raised its position in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 113,746 shares of the software maker's stock after buying an additional 8,846 shares during the quarter. UniSuper Management Pty Ltd owned about 0.26% of Progress Software worth $5,859,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. increased its stake in Progress Software by 1.8% in the 1st 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 during the period. LPL Financial LLC increased its stake in Progress Software by 1,161.5% in the 1st quarter. LPL Financial LLC now owns 48,112 shares of the software maker's stock valued at $2,478,000 after buying an additional 44,298 shares during the period. PNC Financial Services Group Inc. increased its stake in Progress Software by 9.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,409 shares of the software maker's stock valued at $433,000 after buying an additional 694 shares during the period. Natixis Advisors LLC acquired a new position in Progress Software in the 1st quarter valued at $693,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Progress Software by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 501,652 shares of the software maker's stock valued at $25,840,000 after buying an additional 9,852 shares during the period.

Insider Activity

In other news, CFO Anthony Folger sold 5,529 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total transaction of $292,871.13. Following the completion of the transaction, the chief financial officer owned 43,559 shares of the company's stock, valued at $2,307,320.23. This represents a 11.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rainer Gawlick acquired 1,710 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $43.48 per share, with a total value of $74,350.80. Following the purchase, the director owned 55,544 shares in the company, valued at approximately $2,415,053.12. The trade was a 3.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.60% of the company's stock.

Progress Software Price Performance

NASDAQ:PRGS opened at $43.56 on Monday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43. The company's 50-day moving average is $47.90 and its two-hundred day moving average is $55.07. Progress Software Corporation has a 12-month low of $42.88 and a 12-month high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its earnings results 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 analyst estimates of $237.23 million. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The firm's quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. Research analysts expect that Progress Software Corporation will post 4.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup dropped their price objective 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. Jefferies Financial Group restated a "hold" rating on shares of Progress Software in a research report on Friday, June 27th. Wedbush restated an "outperform" rating and set a $75.00 target price on shares of Progress Software in a research report on Friday, June 27th. Wall Street Zen lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, DA Davidson boosted their target price on shares of Progress Software from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Progress Software presently has an average rating of "Moderate Buy" and an average price target of $73.33.

About Progress Software

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.

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