Ieq Capital LLC Acquires Shares of 54,368 Progress Software Corporation $PRGS

Ieq Capital LLC bought a new stake in Progress Software Corporation (NASDAQ:PRGS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 54,368 shares of the software maker’s stock, valued at approximately $1,826,000.

Other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. raised its position in 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 period. Kemnay Advisory Services Inc. bought a new position in shares of Progress Software during the fourth quarter valued at approximately $42,000. Osaic Holdings Inc. raised its holdings in shares of Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after buying an additional 637 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Progress Software in the first quarter worth approximately $26,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on the company. DA Davidson upped their price objective on Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. 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. Guggenheim restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Finally, Oppenheimer reduced their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and an average price target of $52.17.

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 stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the sale, the executive vice president directly owned 18,370 shares in the company, valued at $703,019.90. This represents a 36.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Progress Software Stock Performance

Shares of Progress Software stock opened at $43.28 on Wednesday. The firm has a market cap of $1.77 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.82 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. Progress Software Corporation has a 12 month low of $23.82 and a 12 month high of $47.37. The stock’s fifty day moving average price is $38.74 and its 200-day moving average price is $34.55.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company had revenue of $253.47 million for the quarter, compared to analysts’ expectations of $242.74 million. During the same period in the prior year, the business earned $1.40 EPS. The firm’s quarterly 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, equities research analysts expect that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Progress Software Profile

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.