FY2025 EPS Forecast for Progress Software Raised by Analyst

Progress Software Corporation (NASDAQ:PRGS - Free Report) - Research analysts at Wedbush boosted their FY2025 earnings per share (EPS) estimates for shares of Progress Software in a research note issued to investors on Tuesday, July 1st. Wedbush analyst D. Ives now expects that the software maker will post earnings of $4.22 per share 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.

Other research analysts have also issued reports about the stock. Citigroup reaffirmed a "neutral" rating on shares of Progress Software in a research note on Friday, June 27th. Jefferies Financial Group restated a "hold" rating on shares of Progress Software in a report on Friday, June 27th. DA Davidson lifted their price target on Progress Software from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Guggenheim reissued a "buy" rating and set a $83.00 price objective on shares of Progress Software in a report on Friday, June 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.17.

Progress Software Stock Performance

NASDAQ PRGS opened at $53.90 on Thursday. The company has a market cap of $2.32 billion, a P/E ratio of 41.15, a PEG ratio of 2.66 and a beta of 0.68. The company has a fifty day simple moving average of $61.88 and a 200 day simple moving average of $59.66. The company has a current ratio of 0.43, a quick ratio of 0.79 and a debt-to-equity ratio of 2.43. Progress Software has a 12-month low of $50.68 and a 12-month high of $70.56.

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

Insider Transactions at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the company's stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ian Pitt sold 703 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $56.29, for a total value of $39,571.87. Following the sale, the insider directly owned 8,317 shares of the company's stock, valued at $468,163.93. The trade was a 7.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised 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 purchasing an additional 187 shares during the period. Vanguard Group Inc. increased its holdings in Progress Software by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock worth $381,487,000 after buying an additional 45,246 shares during the last quarter. Sei Investments Co. raised its position in Progress Software by 22.7% in the fourth 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 period. Amundi raised its stake 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 during the period. Finally, Raymond James Financial Inc. purchased a new stake in Progress Software during the fourth quarter valued at about $15,432,000.

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.

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