FY2025 EPS Estimate for Progress Software Boosted by Analyst

Progress Software Corporation (NASDAQ:PRGS - Free Report) - Research analysts at DA Davidson upped their FY2025 EPS estimates for Progress Software in a research report issued on Tuesday, July 1st. DA Davidson analyst L. Schreiner now forecasts that the software maker will post earnings per share of $4.24 for the year, up from their prior forecast of $4.08. DA Davidson currently has a "Buy" rating and a $75.00 target price on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.01 per share. DA Davidson also issued estimates for Progress Software's FY2026 earnings at $4.58 EPS.

PRGS has been the topic of a number of other reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of Progress Software in a research note on Friday, June 27th. Guggenheim restated a "buy" rating and set a $83.00 price objective on shares of Progress Software in a report on Friday, June 27th. Citigroup reaffirmed a "neutral" rating on shares of Progress Software in a report on Friday, June 27th. Finally, Wedbush reissued an "outperform" rating and set a $75.00 price objective on shares of Progress Software in a report on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.17.

Progress Software Price Performance

Shares of PRGS traded up $0.24 during midday trading on Thursday, hitting $54.14. The company's stock had a trading volume of 961,746 shares, compared to its average volume of 591,367. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 41.33, a price-to-earnings-growth ratio of 2.54 and a beta of 0.68. The company has a quick ratio of 0.79, a current ratio of 0.43 and a debt-to-equity ratio of 2.43. The company's fifty day simple moving average is $61.88 and its two-hundred day simple moving average is $59.66. Progress Software has a one year low of $50.68 and a one year high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share for the quarter, beating 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 analysts' expectations of $237.23 million. During the same period in the prior year, the firm earned $1.09 EPS. The business's revenue was up 35.6% on a year-over-year basis.

Insider Activity at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total transaction of $83,209.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ian Pitt sold 703 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $56.29, for a total transaction of $39,571.87. Following the transaction, the insider directly owned 8,317 shares of the company's stock, valued at $468,163.93. This trade represents a 7.79% decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progress Software

Several large investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. lifted its holdings in Progress Software by 3.0% during the first quarter. Avantax Advisory Services Inc. now owns 6,396 shares of the software maker's stock worth $329,000 after buying an additional 185 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Progress Software by 1.8% during the 1st quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker's stock worth $546,000 after acquiring an additional 187 shares in the last quarter. Assetmark Inc. lifted its holdings in Progress Software by 6.6% during the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock valued at $215,000 after purchasing an additional 204 shares in the last quarter. Summit Investment Advisors Inc. increased its position 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. Finally, First Trust Advisors LP lifted its stake in Progress Software by 0.3% in the 4th quarter. First Trust Advisors LP now owns 95,908 shares of the software maker's stock worth $6,248,000 after purchasing an additional 281 shares in the last quarter.

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.