FY2025 EPS Estimate for Progress Software Boosted by Analyst

Progress Software Corporation (NASDAQ:PRGS - Free Report) - Investment analysts at DA Davidson upped their FY2025 earnings per share (EPS) estimates for shares of Progress Software in a report issued on Tuesday, July 1st. DA Davidson analyst L. Schreiner now expects that the software maker will earn $4.24 per share for the year, up from their previous 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.

Several other analysts have also issued reports on PRGS. 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. Guggenheim reiterated a "buy" rating and set a $83.00 price target on shares of Progress Software in a research note on Friday, June 27th. Citigroup restated a "neutral" rating on shares of Progress Software in a research note on Friday, June 27th. Wall Street Zen cut Progress Software from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Jefferies Financial Group reissued a "hold" rating 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 given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $75.17.

Progress Software Stock Performance

Shares of NASDAQ PRGS traded up $0.24 during midday trading on Thursday, hitting $54.14. 961,746 shares of the company's stock traded hands, compared to its average volume of 592,800. The firm has a fifty day moving average of $61.68 and a 200 day moving average of $59.37. Progress Software has a 1 year low of $50.68 and a 1 year high of $70.56. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43. 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 2.57 and a beta of 0.68.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its quarterly earnings data on Monday, June 30th. The software maker reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.10. The company had revenue of $237.36 million during the quarter, compared to analysts' expectations of $237.23 million. Progress Software had a return on equity of 43.72% and a net margin of 6.63%. Progress Software's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share.

Institutional Investors Weigh In On Progress Software

A number of institutional investors have recently bought and sold shares of PRGS. Vanguard Group Inc. lifted its position in shares of Progress Software by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock valued at $381,487,000 after acquiring an additional 45,246 shares in the last quarter. Geode Capital Management LLC raised its stake in Progress Software by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,013,411 shares of the software maker's stock valued at $66,039,000 after purchasing an additional 4,927 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Progress Software by 15.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 963,730 shares of the software maker's stock worth $49,642,000 after purchasing an additional 125,345 shares in the last quarter. Invesco Ltd. lifted its holdings in Progress Software by 0.7% in the 4th quarter. Invesco Ltd. now owns 802,523 shares of the software maker's stock worth $52,284,000 after purchasing an additional 5,474 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Progress Software by 11.6% in the 4th quarter. Deutsche Bank AG now owns 789,109 shares of the software maker's stock worth $51,410,000 after purchasing an additional 82,156 shares during the period.

Insider Activity

In related news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction 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 the SEC website. 3.60% of the stock is currently owned by company 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.