Key Points
- Progress EVP Sundar Subramanian sold 21,594 shares on March 10 at an average price of $37.65 for about $813,014, leaving him with 15,542 shares—a 58.15% reduction in his holding.
- Progress beat quarterly estimates (Q: $1.51 EPS vs. $1.31 est., revenue $253M, +17.5% y/y) and set FY2026 EPS guidance of 1.74–1.91, yet the stock traded down ~3.8% to $34.34; analysts rate the stock a "Moderate Buy" with an average target of $64.60.
Progress Software Corporation (NASDAQ:PRGS - Get Free Report) EVP Sundar Subramanian sold 1,600 shares of Progress Software stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total value of $61,248.00. Following the completion of the sale, the executive vice president directly owned 15,542 shares in the company, valued at $594,947.76. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Sundar Subramanian also recently made the following trade(s):
- On Tuesday, March 10th, Sundar Subramanian sold 21,594 shares of Progress Software stock. The shares were 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 stock was sold at an average price of $42.37, for a total value of $57,284.24.
Progress Software Price Performance
Shares of PRGS traded down $0.28 during mid-day trading on Friday, hitting $35.42. 632,089 shares of the stock were exchanged, compared to its average volume of 1,036,404. The firm has a 50-day moving average of $40.26 and a two-hundred day moving average of $42.38. Progress Software Corporation has a 52-week low of $34.25 and a 52-week 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 has a market cap of $1.49 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57.
Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $252.86 million. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Progress Software'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. On average, equities analysts predict that Progress Software Corporation will post 4.01 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on PRGS shares. Wedbush decreased their price objective on Progress Software from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings raised Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, February 25th. Citigroup increased their price target on Progress Software from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Jefferies Financial Group dropped their price objective on shares of Progress Software from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, January 5th. Finally, DA Davidson reissued a "buy" rating and issued a $70.00 target price on shares of Progress Software in a research note on Wednesday, February 4th. Four equities research 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, Progress Software currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.60.
Read Our Latest Analysis on PRGS
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PRGS. Hantz Financial Services Inc. increased 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 buying an additional 493 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Progress Software in the 2nd quarter valued at about $41,000. Kemnay Advisory Services Inc. bought a new position in Progress Software in the fourth quarter worth approximately $42,000. Advisors Asset Management Inc. increased its holdings in Progress Software by 135.1% during the 1st 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. Finally, TD Private Client Wealth LLC raised its position in Progress Software by 1,042.5% during the 4th quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker's stock valued at $55,000 after purchasing an additional 1,178 shares in the last quarter.
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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