Progress Software Corporation (NASDAQ:PRGS - Free Report) - Wedbush increased their FY2025 earnings per share estimates for Progress Software in a research note issued on Tuesday, July 1st. Wedbush analyst D. Ives now expects that the software maker will post earnings per share of $4.22 for the year, up from their prior forecast of $4.21. Wedbush has a "Outperform" rating and a $75.00 price target on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.01 per share. Wedbush also issued estimates for Progress Software's Q4 2025 earnings at $1.04 EPS.
Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $237.23 million. During the same period last year, the company posted $1.09 EPS. The company's quarterly revenue was up 35.6% compared to the same quarter last year.
A number of other research firms have also recently commented on PRGS. Wall Street Zen cut Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group reiterated a "hold" rating on shares of Progress Software in a report on Friday, June 27th. Citigroup restated a "neutral" rating on shares of Progress Software in a report on Friday, June 27th. Guggenheim reaffirmed a "buy" rating and issued a $83.00 target price on shares of Progress Software in a research report on Friday, June 27th. Finally, DA Davidson lifted their price target on shares of Progress Software from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Progress Software currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.17.
Get Our Latest Analysis on Progress Software
Progress Software Stock Up 0.4%
PRGS traded up $0.24 on Thursday, hitting $54.14. The company had a trading volume of 961,746 shares, compared to its average volume of 592,800. Progress Software has a 52-week low of $50.68 and a 52-week high of $70.56. The stock has a fifty day simple moving average of $61.68 and a 200-day simple moving average of $59.37. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $2.33 billion, a P/E ratio of 41.33, a P/E/G ratio of 2.57 and a beta of 0.68.
Insider Transactions at Progress Software
In other news, insider Yufan Stephanie Wang sold 1,428 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.60% of the company's stock.
Hedge Funds Weigh In On Progress Software
A number of hedge funds have recently bought and sold shares of PRGS. QRG Capital Management Inc. raised its holdings in Progress Software by 1.8% in the first quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker's stock worth $546,000 after buying an additional 187 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Progress Software by 0.8% during 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. Sei Investments Co. raised its holdings in Progress Software by 22.7% in the 4th quarter. Sei Investments Co. now owns 65,952 shares of the software maker's stock worth $4,297,000 after acquiring an additional 12,191 shares during the last quarter. Amundi lifted its position in Progress Software by 110.5% in the 4th quarter. Amundi now owns 25,117 shares of the software maker's stock valued at $1,594,000 after acquiring an additional 13,187 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Progress Software during the 4th quarter valued at $15,432,000.
About Progress Software
(
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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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