Sundar Subramanian Sells 1,600 Shares of Progress Software (NASDAQ:PRGS) Stock

Key Points

• Sundar Subramanian, EVP of Progress, sold 1,600 shares on March 11 at $38.28 for $61,248—reducing his holding to 15,542 shares (a 9.33% decrease); he also sold 21,594 shares on March 10 and 1,352 shares on Jan 26, indicating notable insider selling activity.
• Progress beat quarterly EPS expectations ($1.51 vs. $1.31) with revenue up 17.5% year-over-year and provided FY2026 guidance of EPS 1.74–1.91 (Q1 1.56–1.62), while analysts project about 4.01 EPS for the year.
• The stock traded at $35.69 mid-day with a market cap ~ $1.5B and a P/E of 21.5, and analysts' consensus is a Moderate Buy with an average price target of $64.60.

Progress Software Corporation (NASDAQ:PRGS - Get Free Report) EVP Sundar Subramanian sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total transaction of $61,248.00. Following the transaction, the executive vice president owned 15,542 shares in the company, valued at $594,947.76. This represents a 9.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sundar Subramanian also recently made the following trade(s):

• On Tuesday, March 10th, Sundar Subramanian sold 21,594 shares of Progress Software stock. The stock was sold at an average price of $37.65, for a total value of $813,014.10.
• On Monday, January 26th, Sundar Subramanian sold 1,352 shares of Progress Software stock. The shares were sold at an average price of $42.37, for a total value of $57,284.24.

Progress Software Price Performance

Shares of PRGS stock traded down $0.75 during mid-day trading on Thursday, hitting $35.69. 566,946 shares of the stock traded hands, compared to its average volume of 1,047,218. Progress Software Corporation has a twelve month low of $34.57 and a twelve month high of $65.50. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The company's 50-day simple moving average is $40.41 and its 200-day simple moving average is $42.43. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 1.64 and a beta of 0.57.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The business had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.86 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The company's revenue was up 17.5% on a year-over-year basis. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. As a group, equities research analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PRGS shares. Weiss Ratings raised shares of Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, February 25th. Citigroup raised their target price on shares of Progress Software from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Wedbush decreased their price target on shares of Progress Software from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Thursday, January 22nd. DA Davidson reaffirmed a "buy" rating and issued a $70.00 price target on shares of Progress Software in a report on Wednesday, February 4th. Finally, Jefferies Financial Group reduced their price objective on Progress Software from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Progress Software currently has an average rating of "Moderate Buy" and an average target price of $64.60.

Institutional Trading of Progress Software

A number of hedge funds have recently modified their holdings of the business. Elevation Point Wealth Partners LLC acquired a new position in Progress Software during the second quarter valued at $41,000. Hantz Financial Services Inc. lifted its stake in Progress Software by 194.1% in the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker's stock worth $32,000 after acquiring an additional 493 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Progress Software during the 4th quarter worth about $42,000. Osaic Holdings Inc. lifted its position in shares of Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker's stock worth $62,000 after purchasing an additional 637 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker's stock worth $54,000 after purchasing an additional 604 shares during the period.

About Progress Software

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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