Progress Software (PRGS) Expected to Announce Quarterly Earnings on Tuesday

Progress Software (NASDAQ:PRGS - Get Free Report) is expected to issue its Q2 2025 quarterly earnings data before the market opens on Tuesday, June 24th. Analysts expect the company to announce earnings of $1.31 per share and revenue of $237.23 million for the quarter.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.27. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The firm had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. During the same period in the prior year, the business posted $1.25 earnings per share. The company's revenue for the quarter was up 28.9% on a year-over-year basis. On average, analysts expect Progress Software to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Progress Software Trading Up 1.0%

Shares of NASDAQ PRGS opened at $63.23 on Tuesday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The business's 50 day moving average price is $60.63 and its 200-day moving average price is $60.11. Progress Software has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 2.82 and a beta of 0.67.

Insiders Place Their Bets

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Pitt sold 703 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $56.29, for a total value of $39,571.87. Following the completion of the transaction, the insider now directly owns 8,317 shares of the company's stock, valued at approximately $468,163.93. This trade represents a 7.79% decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progress Software

Several institutional investors and hedge funds have recently modified their holdings of PRGS. Goldman Sachs Group Inc. lifted its holdings in shares of Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker's stock valued at $28,894,000 after buying an additional 241,515 shares during the period. Jane Street Group LLC lifted its holdings in shares of Progress Software by 206.8% in the 1st 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. Intech Investment Management LLC lifted its holdings 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 valued at $1,453,000 after buying an additional 8,756 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Progress Software by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker's stock valued at $2,194,000 after buying an additional 6,147 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $1,321,000 after buying an additional 1,454 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have commented on PRGS shares. Wedbush restated an "outperform" rating and set a $75.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Guggenheim restated a "buy" rating and set a $83.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Finally, DA Davidson reduced their price objective on Progress Software from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.33.

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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