Key Points
- EVP Sundar Subramanian sold 1,352 shares on Jan. 26 at an average price of $42.37 for about $57,284, reducing his ownership by 4.44% to 29,066 shares (valued ~ $1.23M); the trade was disclosed in an SEC filing.
- Progress beat expectations for the quarter with $1.51 EPS vs. $1.31 est. and revenue of $253.0M (up 17.5% YoY), and provided FY2026 guidance of $1.74–1.91 EPS and Q1 2026 guidance of $1.56–1.62 EPS.
Progress Software Corporation (NASDAQ:PRGS - Get Free Report) EVP Sundar Subramanian sold 1,352 shares of the company's stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the transaction, the executive vice president directly owned 29,066 shares in the company, valued at $1,231,526.42. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Progress Software Stock Up 1.1%
Progress Software stock opened at $42.89 on Tuesday. Progress Software Corporation has a 12 month low of $38.54 and a 12 month high of $65.50. The stock has a fifty day simple moving average of $42.33 and a two-hundred day simple moving average of $44.02. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.86 and a beta of 0.61.
Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 EPS 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 company had revenue of $253.00 million for the quarter, compared to analysts' expectations of $252.86 million. During the same period last year, the firm posted $1.33 earnings per share. Progress Software's revenue was up 17.5% compared to the same quarter last year. 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. Equities analysts predict that Progress Software Corporation will post 4.01 EPS for the current fiscal year.
Hedge Funds Weigh In On Progress Software
A number of institutional investors have recently bought and sold shares of PRGS. Quaker Wealth Management LLC lifted its position in Progress Software by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker's stock valued at $29,000 after purchasing an additional 900 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Progress Software during the 2nd quarter valued at about $41,000. Osaic Holdings Inc. grew its stake in shares of Progress Software by 183.0% during the 2nd quarter. Osaic Holdings Inc. now owns 985 shares of the software maker's stock valued at $62,000 after acquiring an additional 637 shares during the period. Advisors Asset Management Inc. increased 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in Progress Software by 59.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,463 shares of the software maker's stock worth $93,000 after acquiring an additional 546 shares during the period.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on PRGS shares. Wall Street Zen upgraded shares of Progress Software from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. DA Davidson lowered their price target on Progress Software from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, January 15th. Wedbush dropped their price target on Progress Software from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Thursday, January 22nd. 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 report on Monday, January 5th. Finally, Citigroup raised their target price on Progress Software from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.60.
View Our Latest Research Report on PRGS
About Progress Software
(
Get Free Report)
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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