Progress Software (NASDAQ:PRGS) Updates FY 2025 Earnings Guidance

Progress Software (NASDAQ:PRGS - Get Free Report) updated its FY 2025 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.280-5.400 for the period, compared to the consensus estimate of 5.290. The company issued revenue guidance of $962.0 million-$974.0 million, compared to the consensus revenue estimate of $963.5 million. Progress Software also updated its Q3 2025 guidance to 1.280-1.340 EPS.

Progress Software Stock Performance

PRGS traded up $0.24 on Thursday, hitting $54.14. The company's stock had a trading volume of 961,746 shares, compared to its average volume of 591,367. Progress Software has a 12 month low of $50.68 and a 12 month high of $70.56. The firm has a market cap of $2.33 billion, a P/E ratio of 41.33, a price-to-earnings-growth ratio of 2.54 and a beta of 0.68. The company has a quick ratio of 0.79, a current ratio of 0.43 and a debt-to-equity ratio of 2.43. The company's 50 day simple moving average is $61.88 and its 200-day simple moving average is $59.66.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.10. The firm had revenue of $237.36 million for the quarter, compared to the consensus estimate of $237.23 million. Progress Software had a return on equity of 43.72% and a net margin of 6.63%. The business's quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. Analysts forecast that Progress Software will post 4.01 EPS for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Progress Software news, insider Ian Pitt sold 703 shares of Progress Software stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $56.29, for a total transaction of $39,571.87. Following the transaction, the insider directly owned 8,317 shares of the company's stock, valued at approximately $468,163.93. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Yufan Stephanie Wang sold 1,428 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total transaction of $83,209.56. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progress Software

Several institutional investors and hedge funds have recently bought and sold shares of PRGS. Advisors Asset Management Inc. grew its holdings in Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker's stock worth $54,000 after acquiring an additional 604 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Progress Software by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker's stock worth $1,321,000 after purchasing an additional 1,454 shares during the period. Intech Investment Management LLC lifted its position in shares of Progress Software by 45.0% in the 1st quarter. Intech Investment Management LLC now owns 28,202 shares of the software maker's stock worth $1,453,000 after purchasing an additional 8,756 shares during the period. AQR Capital Management LLC boosted its stake in shares of Progress Software by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker's stock valued at $2,194,000 after purchasing an additional 6,147 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Progress Software by 206.8% during the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker's stock valued at $5,734,000 after buying an additional 75,044 shares during the period.

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.