Key Points
- Progress Software EVP Sundar Subramanian sold 10,597 shares at an average price of $38.27, totaling about $405,547. The filing says the trade was part of a pre-arranged Rule 10b5-1 plan, and his remaining holdings were valued at about $703,020.
- The company recently beat quarterly expectations, reporting EPS of $1.62 versus the $1.46 consensus and revenue of $253.47 million versus $242.74 million expected. Revenue rose 6.8% year over year, and Progress also issued FY2026 and Q3 2026 guidance.
- Shares were trading modestly higher around $38.74, with analysts maintaining a generally positive view. MarketBeat data shows an average rating of “Moderate Buy” and a target price of $49.67.
Progress Software Corporation (NASDAQ:PRGS - Get Free Report) EVP Sundar Subramanian sold 10,597 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the sale, the executive vice president owned 18,370 shares of the company's stock, valued at $703,019.90. This trade represents a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Progress Software Trading Up 0.8%
Progress Software stock opened at $38.74 on Tuesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The business's 50-day simple moving average is $30.68 and its 200-day simple moving average is $34.81. The firm has a market capitalization of $1.59 billion, a PE ratio of 18.81, a PEG ratio of 1.62 and a beta of 0.82. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $54.28.
Progress Software (NASDAQ:PRGS - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million during the quarter, compared to analysts' expectations of $242.74 million. During the same quarter in the previous year, the firm earned $1.40 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Equities research analysts forecast that Progress Software Corporation will post 4.73 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of PRGS. Geneos Wealth Management Inc. bought a new position in Progress Software in the first quarter worth $26,000. Parallel Advisors LLC lifted its holdings in shares of Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker's stock worth $29,000 after acquiring an additional 653 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker's stock valued at $32,000 after acquiring an additional 493 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Progress Software in the fourth quarter valued at about $42,000. Finally, Advisors Asset Management Inc. raised its position in Progress Software by 135.1% in 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 in the last quarter.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on PRGS shares. DA Davidson restated a "buy" rating and issued a $40.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Guggenheim restated a "buy" rating and issued a $83.00 price target on shares of Progress Software in a research report on Wednesday, July 1st. Jefferies Financial Group dropped their price objective on shares of Progress Software from $45.00 to $34.00 and set a "hold" rating on the stock in a report on Tuesday, March 31st. Citigroup cut their price objective on shares of Progress Software from $60.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Finally, Weiss Ratings cut shares of Progress Software from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, April 16th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Progress Software presently has an average rating of "Moderate Buy" and an average target price of $49.67.
Read Our Latest 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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