Wedbush Decreases Earnings Estimates for Progress Software

Progress Software Corporation (NASDAQ:PRGS - Free Report) - Stock analysts at Wedbush dropped their Q3 2025 earnings estimates for shares of Progress Software in a note issued to investors on Tuesday, July 1st. Wedbush analyst D. Ives now anticipates that the software maker will post earnings per share of $1.03 for the quarter, down from their previous forecast of $1.06. 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 Q1 2026 earnings at $1.11 EPS, Q2 2026 earnings at $1.13 EPS, Q3 2026 earnings at $1.17 EPS, Q4 2026 earnings at $1.22 EPS and FY2026 earnings at $4.63 EPS.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Saturday. Citigroup reaffirmed a "neutral" rating on shares of Progress Software in a report on Friday, June 27th. DA Davidson lifted their target price on shares of Progress Software from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Guggenheim reaffirmed a "buy" rating and issued a $83.00 target price on shares of Progress Software in a report on Friday, June 27th. Finally, Jefferies Financial Group reaffirmed a "hold" rating 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $75.17.

Progress Software Stock Performance

NASDAQ PRGS traded up $0.24 during trading on Friday, reaching $54.14. The company's stock had a trading volume of 961,746 shares, compared to its average volume of 592,800. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.79 and a current ratio of 0.43. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 41.33, a P/E/G ratio of 2.57 and a beta of 0.68. Progress Software has a twelve month low of $50.68 and a twelve month high of $70.56. The business's fifty day moving average price is $61.68 and its 200-day moving average price is $59.41.

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

Insider Transactions at Progress Software

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of the firm'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of Progress Software by 893.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock valued at $50,000 after buying an additional 688 shares during the period. Charles Schwab Investment Management Inc. increased its position in Progress Software by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 491,800 shares of the software maker's stock worth $32,041,000 after purchasing an additional 12,855 shares during the last quarter. Victory Capital Management Inc. increased its position in Progress Software by 34.8% during the fourth quarter. Victory Capital Management Inc. now owns 150,439 shares of the software maker's stock worth $9,801,000 after purchasing an additional 38,799 shares during the last quarter. Assetmark Inc. increased its position in Progress Software by 6.6% during the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock worth $215,000 after purchasing an additional 204 shares during the last quarter. Finally, Atria Investments Inc increased its position in Progress Software by 34.4% during the fourth quarter. Atria Investments Inc now owns 7,954 shares of the software maker's stock worth $518,000 after purchasing an additional 2,034 shares during the last quarter.

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.