Progress Software Corporation (NASDAQ:PRGS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $52.1667.

A number of research firms have recently issued reports on PRGS. Oppenheimer dropped their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. DA Davidson increased their price target on Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th.

Progress Software Price Performance

PRGS stock opened at $44.05 on Friday. 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 company has a market capitalization of $1.81 billion, a PE ratio of 21.38, a P/E/G ratio of 1.87 and a beta of 0.82. Progress Software has a 12-month low of $23.82 and a 12-month high of $47.37. The business’s fifty day moving average price is $41.10 and its 200 day moving average price is $34.82.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share 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 business had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. During the same quarter in the prior year, the company earned $1.40 earnings per share. The company’s revenue 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, sell-side analysts anticipate that Progress Software will post 4.77 EPS for the current year.

Insider Activity at Progress Software

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. lifted its holdings in Progress Software by 37.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock valued at $5,359,000 after acquiring an additional 33,800 shares during the last quarter. Dana Investment Advisors Inc. acquired a new stake in shares of Progress Software during the fourth quarter worth approximately $6,011,000. LSV Asset Management grew its position in Progress Software by 171.2% during the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after purchasing an additional 619,800 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Progress Software during the 4th quarter valued at $1,470,000. Finally, Glenmede Trust Co. NA grew its holdings in shares of Progress Software by 15.4% during the 1st quarter. Glenmede Trust Co. NA now owns 312,282 shares of the software maker’s stock valued at $8,010,000 after acquiring an additional 41,600 shares in the last quarter.

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.