Paradigm Capital Management Inc. NY Invests $5.39 Million in Progress Software Corporation $PRGS

Paradigm Capital Management Inc. NY acquired a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 160,600 shares of the software maker’s stock, valued at approximately $5,393,000.

A number of other large investors have also added to or reduced their stakes in the stock. Geneos Wealth Management Inc. purchased a new stake in shares of Progress Software in the first quarter worth $26,000. Parallel Advisors LLC raised its position in shares of Progress Software by 142.0% in the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of 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 purchasing an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in Progress Software in the 4th quarter worth about $42,000. Finally, Advisors Asset Management Inc. grew its position 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 valued at $54,000 after purchasing an additional 604 shares during the last quarter.

Insiders Place Their Bets

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the transaction, the executive vice president directly owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

Progress Software Price Performance

Shares of PRGS opened at $43.42 on Tuesday. The firm has a market cap of $1.78 billion, a PE ratio of 21.08, a P/E/G ratio of 1.86 and a beta of 0.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. The firm has a fifty day simple moving average of $38.50 and a two-hundred day simple moving average of $34.54. Progress Software Corporation has a 1-year low of $23.82 and a 1-year high of $47.37.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The firm had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same period last year, the business posted $1.40 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. 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. On average, equities analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Oppenheimer reduced their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and set a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Finally, DA Davidson raised their price target on shares of Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and an average target price of $52.17.

About Progress Software

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.