Progress Software Corporation (NASDAQ:PRGS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS - Get Free Report) have earned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $49.6667.

PRGS has been the topic of several recent analyst reports. Jefferies Financial Group lowered their target price on shares of Progress Software from $45.00 to $34.00 and set a "hold" rating on the stock in a research note on Tuesday, March 31st. Citigroup cut their price target on Progress Software from $60.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. DA Davidson reaffirmed a "buy" rating and issued a $40.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Oppenheimer lowered their price target on Progress Software from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 1st. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Progress Software in a report on Tuesday.

Progress Software Price Performance

NASDAQ:PRGS opened at $40.35 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.63 and a beta of 0.82. The company has a 50 day moving average price of $32.37 and a 200-day moving average price of $34.55. Progress Software has a 1-year low of $23.82 and a 1-year high of $51.28.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.16. The firm had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Equities research analysts forecast that Progress Software will post 4.77 EPS for the current year.

Insider Transactions at Progress Software

In related news, EVP Sundar Subramanian sold 10,597 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the sale, the executive vice president owned 18,370 shares of the company's stock, valued at approximately $703,019.90. The trade was a 36.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company's stock.

Institutional Trading of Progress Software

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Progress Software by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker's stock worth $31,659,000 after purchasing an additional 121,314 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Progress Software by 133.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker's stock worth $31,335,000 after buying an additional 698,611 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Progress Software by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker's stock worth $46,468,000 after buying an additional 6,095 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Progress Software by 15.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,070,327 shares of the software maker's stock worth $27,454,000 after buying an additional 139,257 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Progress Software by 171.2% during the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker's stock valued at $42,178,000 after acquiring an additional 619,800 shares during the last quarter.

Progress Software Company Profile

Progress Software NASDAQ: PRGS is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company's offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress's portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.

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