Key Points
- CFO Anthony Folger sold 6,000 Progress Software shares on Feb 3 at an average of $40.00 for about $240,000, reducing his holding by 10.95% to 48,802 shares (SEC filing).
- Progress Software beat Q earnings, reporting $1.51 EPS vs. $1.31 expected and $253M revenue (up 17.5% YoY), and issued FY2026 guidance of $1.74–1.91 EPS and Q1 guidance of $1.56–1.62 EPS.
- The stock carries a consensus rating of "Moderate Buy" with an average price target of $64.60 (four Buys, two Holds), while trading around $40 and a market cap near $1.69 billion.
Progress Software Corporation (NASDAQ:PRGS - Get Free Report) CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the transaction, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. This represents a 10.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Progress Software Stock Performance
Progress Software stock opened at $40.05 on Wednesday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. Progress Software Corporation has a 1-year low of $38.54 and a 1-year high of $65.50. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50 day simple moving average of $42.40 and a 200-day simple moving average of $43.69.
Progress Software (NASDAQ:PRGS - Get Free Report) last announced its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The company had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.86 million. During the same quarter 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. On average, analysts expect that Progress Software Corporation will post 4.01 EPS for the current year.
Analyst Ratings Changes
PRGS has been the subject of several recent research reports. DA Davidson decreased their price objective on Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, January 15th. Citigroup raised their price objective on shares of Progress Software from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Wedbush lowered their target price on shares of Progress Software from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Thursday, January 22nd. Jefferies Financial Group decreased their price target on Progress Software from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, January 5th. Finally, Weiss Ratings raised Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.60.
Check Out Our Latest Analysis on Progress Software
Institutional Trading of Progress Software
Several hedge funds have recently made changes to their positions in PRGS. Advisors Asset Management Inc. grew its holdings in 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 acquiring an additional 604 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker's stock valued at $2,194,000 after purchasing an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Progress Software by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker's stock worth $1,321,000 after buying an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Progress Software by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker's stock valued at $28,894,000 after acquiring an additional 241,515 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker's stock worth $5,734,000 after purchasing an additional 75,044 shares during the last quarter.
Progress Software Company Profile
(
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.
Further Reading
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