Progress Software Corporation $PRGS Shares Newly Acquired by Leuthold Group LLC

Leuthold Group LLC bought a new stake in Progress Software Corporation (NASDAQ:PRGS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 85,168 shares of the software maker’s stock, valued at approximately $3,404,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in Progress Software during the 2nd quarter worth approximately $40,780,000. Heron Bay Capital Management acquired a new stake in Progress Software during the 2nd quarter valued at approximately $34,011,000. Dimensional Fund Advisors LP boosted its holdings in shares of Progress Software by 10.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock valued at $31,659,000 after acquiring an additional 121,314 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Progress Software by 133.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock valued at $31,335,000 after acquiring an additional 698,611 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Progress Software in the second quarter worth $19,149,000.

Insider Activity

In other Progress Software news, insider Yufan Stephanie Wang sold 1,245 shares of Progress Software stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $37.00, for a total transaction of $46,065.00. Following the completion of the sale, the insider directly owned 3,487 shares in the company, valued at $129,019. This trade represents a 26.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Anthony Folger sold 3,067 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $40.36, for a total transaction of $123,784.12. Following the completion of the transaction, the chief financial officer owned 49,984 shares in the company, valued at approximately $2,017,354.24. This represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company’s stock.

Progress Software Trading Down 1.4%

Shares of PRGS opened at $43.80 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.33. Progress Software Corporation has a 12-month low of $23.82 and a 12-month high of $47.25. The firm has a 50-day moving average price of $41.80 and a 200 day moving average price of $36.94. The firm has a market capitalization of $1.79 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.86 and a beta of 0.87.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Wednesday, September 30th. The software maker reported $1.69 EPS for the quarter, beating the consensus estimate of $1.52 by $0.17. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. The firm had revenue of $246.01 million for the quarter, compared to analyst estimates of $247.33 million. During the same quarter in the previous year, the company earned $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. Sell-side analysts forecast that Progress Software Corporation will post 4.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PRGS shares. Weiss Ratings raised shares of Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Zacks Research raised shares of Progress Software from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a research note on Friday, September 25th. Yorkville Ives assumed coverage on Progress Software in a report on Wednesday, October 7th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, DA Davidson reissued a “buy” rating and set a $55.00 price target on shares of Progress Software in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and an average price target of $51.57.

About Progress Software

Progress Software Corporation develops software used by organizations to build, deploy, manage and secure business applications and IT environments. Founded in 1981 and headquartered in Burlington, Massachusetts, the company serves customers around the world. Its products include OpenEdge, an application development and database platform; Sitefinity, a digital experience platform; and tools for data connectivity, application performance monitoring, network management and managed file transfer. Progress also offers Chef for infrastructure automation and Kemp LoadMaster for application delivery and load balancing.