Key Points
- Insider sale: Yufan Stephanie Wang sold 1,245 Progress Software shares for approximately $46,065 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 26.31% to 3,487 shares.
- Quarterly results: Progress Software reported adjusted earnings of $1.69 per share, exceeding the $1.52 analyst consensus, while quarterly revenue of $246.01 million fell slightly short of estimates and declined 1.5% year over year.
- Analyst outlook: The stock carries a consensus “Moderate Buy” rating, with a $52.17 average price target versus its reported market price near $37.21; institutional investors also generally increased their positions.
Progress Software Corporation (NASDAQ:PRGS - Get Free Report) insider Yufan Stephanie Wang sold 1,245 shares of the company's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $37.00, for a total transaction of $46,065.00. Following the transaction, the insider directly owned 3,487 shares in the company, valued at $129,019. The trade was a 26.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Progress Software Stock Up 0.0%
PRGS stock opened at $37.21 on Thursday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 17.15, a PEG ratio of 1.56 and a beta of 0.89. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.80 and a current ratio of 0.80. Progress Software Corporation has a one year low of $23.82 and a one year high of $47.25. The company has a 50 day moving average price of $41.87 and a two-hundred day moving average price of $35.22.
Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.17. Progress Software had a return on equity of 42.91% and a net margin of 9.24%.The company had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. During the same quarter in the prior year, the company posted $0.44 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. As a group, sell-side analysts expect that Progress Software Corporation will post 4.78 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on PRGS shares. Zacks Research upgraded Progress Software from a "hold" rating to a "strong-buy" rating in a research report on Monday. Guggenheim restated a "buy" rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Weiss Ratings raised shares of Progress Software from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Oppenheimer cut their price objective on shares of Progress Software from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Wednesday, July 1st. Finally, DA Davidson reissued a "buy" rating and issued a $55.00 target price on shares of Progress Software in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.17.
Get Our Latest Analysis on PRGS
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRGS. Moody National Bank Trust Division increased its holdings in shares of Progress Software by 1.3% in the 2nd quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker's stock valued at $948,000 after purchasing an additional 357 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Progress Software by 23.9% during the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker's stock worth $71,000 after purchasing an additional 410 shares during the period. Wedbush Securities Inc. increased its stake in Progress Software by 4.4% in the 2nd quarter. Wedbush Securities Inc. now owns 12,884 shares of the software maker's stock valued at $433,000 after buying an additional 545 shares during the period. Parallel Advisors LLC increased its stake in Progress Software by 142.0% in the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker's stock valued at $29,000 after buying an additional 653 shares during the period. Finally, Chesley Taft & Associates LLC lifted its position in Progress Software by 8.1% in the 2nd quarter. Chesley Taft & Associates LLC now owns 9,182 shares of the software maker's stock worth $308,000 after buying an additional 685 shares in the last quarter.
About Progress Software
(
Get Free Report)
Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.
The company's product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.
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