Progress Software Corporation $PRGS Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,837,177 shares of the software maker's stock after selling 18,348 shares during the period. Vanguard Group Inc. owned about 13.57% of Progress Software worth $300,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PRGS. LPL Financial LLC purchased a new stake in shares of Progress Software during the fourth quarter worth about $248,000. Raymond James Financial Inc. purchased a new stake in shares of Progress Software during the fourth quarter worth about $15,432,000. Summit Investment Advisors Inc. increased its stake in shares of Progress Software by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker's stock worth $290,000 after purchasing an additional 239 shares in the last quarter. Mariner LLC increased its stake in shares of Progress Software by 1.3% during the fourth quarter. Mariner LLC now owns 50,798 shares of the software maker's stock worth $3,309,000 after purchasing an additional 666 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Progress Software by 820.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,600 shares of the software maker's stock worth $300,000 after acquiring an additional 4,100 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PRGS shares. Jefferies Financial Group restated a "hold" rating on shares of Progress Software in a research report on Friday, June 27th. Guggenheim restated a "buy" rating and set a $83.00 price target on shares of Progress Software in a research report on Friday, June 27th. DA Davidson boosted their price target 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. Wedbush restated an "outperform" rating and set a $75.00 price target on shares of Progress Software in a research report on Friday, June 27th. Finally, 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. Four equities research 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.33.

Progress Software Trading Up 4.5%

NASDAQ:PRGS traded up $1.99 on Friday, hitting $46.70. The stock had a trading volume of 749,312 shares, compared to its average volume of 879,162. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.43. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.12 and a beta of 0.70. The company has a fifty day moving average price of $51.50 and a two-hundred day moving average price of $55.92. Progress Software Corporation has a 1-year low of $42.88 and a 1-year high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings data on Monday, June 30th. The software maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.30 by $0.10. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The firm had revenue of $237.36 million for the quarter, compared to analyst estimates of $237.23 million. During the same period in the prior year, the business posted $1.09 EPS. The business's revenue for the quarter was up 35.6% compared to the same quarter last year. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. Equities research analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Progress Software

In other Progress Software news, CFO Anthony Folger sold 5,529 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the completion of the transaction, the chief financial officer owned 43,559 shares in the company, valued at $2,307,320.23. The trade was a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Krall purchased 5,125 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was acquired at an average price of $48.90 per share, with a total value of $250,612.50. Following the purchase, the director owned 100,090 shares of the company's stock, valued at approximately $4,894,401. This represents a 5.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.

Progress Software Company Profile

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.