Progress Software (NASDAQ:PRGS) Insider Yufan Stephanie Wang Sells 1,245 Shares of Company Stock

Key Points

• Insider sale: Yufan Stephanie Wang sold 1,245 Progress Software shares for $46,065 under a pre-arranged Rule 10b5-1 plan, reducing her direct ownership by 26.31% to 3,487 shares.
• Quarterly results: Progress Software reported adjusted earnings of $1.69 per share, beating estimates of $1.52, while quarterly revenue of $246.01 million fell slightly short of forecasts and declined 1.5% year over year.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus rating with an average price target of $52.17, above the stock’s reported trading price of $37.21.

Progress Software Corporation (NASDAQ:PRGS - Get Free Report) insider Yufan Stephanie Wang sold 1,245 shares of Progress Software stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $37.00, for a total transaction of $46,065.00. Following the transaction, the insider directly owned 3,487 shares of the company's stock, valued at approximately $129,019. This represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Trading Up 0.0%

NASDAQ:PRGS traded up $0.01 during mid-day trading on Wednesday, hitting $37.21. 694,649 shares of the stock traded hands, compared to its average volume of 849,169. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.33. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $47.25. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.56 and a beta of 0.89. The firm's 50 day moving average is $41.98 and its two-hundred day moving average is $35.18.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.17. The business had revenue of $246.01 million during the quarter, compared to the consensus estimate of $247.33 million. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. On average, equities research analysts predict that Progress Software Corporation will post 4.78 earnings per share for the current year.

Analysts Set New Price Targets

PRGS has been the subject of several research analyst reports. Guggenheim reiterated a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Wednesday, July 1st. Oppenheimer reduced their price target on shares of Progress Software from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Progress Software from a "hold" rating to a "strong-buy" rating in a report on Monday. Weiss Ratings raised shares of Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group upgraded shares of Progress Software to a "hold" rating in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Progress Software currently has an average rating of "Moderate Buy" and an average price target of $52.17.

Hedge Funds Weigh In On Progress Software

A number of hedge funds and other institutional investors have recently modified their holdings of PRGS. The Manufacturers Life Insurance Company bought a new position in Progress Software in the second quarter worth approximately $40,780,000. Heron Bay Capital Management bought a new stake in Progress Software during the second quarter valued at about $34,011,000. Dimensional Fund Advisors LP grew its stake in Progress Software by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker's stock valued at $31,659,000 after purchasing an additional 121,314 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Progress Software by 133.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker's stock valued at $31,335,000 after purchasing an additional 698,611 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in Progress Software in the second quarter worth about $19,149,000.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company's product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.

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