Q3 EPS Estimates for Progress Software Reduced by Wedbush

Progress Software Corporation (NASDAQ:PRGS - Free Report) - Equities researchers at Wedbush reduced their Q3 2025 earnings per share (EPS) estimates for Progress Software in a note issued to investors on Tuesday, July 1st. Wedbush analyst D. Ives now anticipates that the software maker will earn $1.03 per share for the quarter, down from their previous estimate of $1.06. Wedbush has a "Outperform" rating and a $75.00 price objective 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.

A number of other analysts have also recently issued reports on the company. Guggenheim reissued a "buy" rating and set a $83.00 price objective on shares of Progress Software in a report on Friday, June 27th. Wall Street Zen cut Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Saturday. DA Davidson lifted their price target on shares of Progress Software from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Citigroup reaffirmed a "neutral" rating on shares of Progress Software in a research note on Friday, June 27th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Progress Software in a research note on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Progress Software currently has an average rating of "Moderate Buy" and a consensus price target of $75.17.

Progress Software Stock Performance

PRGS traded down $2.91 during trading hours on Friday, hitting $51.54. The stock had a trading volume of 2,202,905 shares, compared to its average volume of 599,250. Progress Software has a 1 year low of $50.68 and a 1 year high of $70.56. The stock has a market cap of $2.22 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 2.57 and a beta of 0.68. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.43. The company's fifty day simple moving average is $61.68 and its 200 day simple moving average is $59.37.

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

Insiders Place Their Bets

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Progress Software

Several institutional investors and hedge funds have recently made changes to their positions in PRGS. Swedbank AB raised its stake in Progress Software by 65.8% during the 1st quarter. Swedbank AB now owns 728,748 shares of the software maker's stock valued at $37,538,000 after buying an additional 289,122 shares during the last quarter. Inspire Investing LLC grew its holdings in Progress Software by 14.3% during the 1st quarter. Inspire Investing LLC now owns 7,793 shares of the software maker's stock valued at $401,000 after buying an additional 973 shares in the last quarter. Rhumbline Advisers increased its holdings in Progress Software by 1.8% in the 1st quarter. Rhumbline Advisers now owns 121,063 shares of the software maker's stock valued at $6,236,000 after acquiring an additional 2,193 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Progress Software by 45.0% in the first quarter. Intech Investment Management LLC now owns 28,202 shares of the software maker's stock worth $1,453,000 after buying an additional 8,756 shares in the last quarter. Finally, Jane Street Group LLC grew its stake 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 worth $5,734,000 after buying an additional 75,044 shares in 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.