Progress Software Corporation (NASDAQ:PRGS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $73.3333.

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. DA Davidson boosted their price objective on shares of Progress Software from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Citigroup reduced their price objective on Progress Software from $64.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Wedbush reiterated an “outperform” rating and issued a $75.00 target price on shares of Progress Software in a report on Friday, June 27th. Finally, Guggenheim restated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research note on Friday, June 27th.

Progress Software Stock Down 0.0%

NASDAQ PRGS opened at $46.29 on Tuesday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $2.00 billion, a P/E ratio of 35.34, a P/E/G ratio of 2.19 and a beta of 0.68. Progress Software has a one year low of $42.88 and a one year high of $70.56. The stock has a 50 day moving average price of $49.47 and a 200-day moving average price of $55.43.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Monday, June 30th. The software maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. The firm had revenue of $237.36 million during the quarter, compared to analysts’ expectations of $237.23 million. Progress Software had a return on equity of 43.72% and a net margin of 6.63%.The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. As a group, equities analysts predict that Progress Software will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Progress Software

In related news, CFO Anthony Folger sold 5,529 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $52.97, for a total transaction of $292,871.13. Following the transaction, the chief financial officer directly owned 43,559 shares of the company’s stock, valued at $2,307,320.23. This represents a 11.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Rainer Gawlick purchased 1,710 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $43.48 per share, with a total value of $74,350.80. Following the completion of the purchase, the director owned 55,544 shares of the company’s stock, valued at $2,415,053.12. The trade was a 3.18% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is owned by insiders.

Institutional Trading of Progress Software

Several large investors have recently bought and sold shares of PRGS. LPL Financial LLC acquired a new position in shares of Progress Software in the fourth quarter valued at about $248,000. First Trust Advisors LP raised its holdings in shares of Progress Software by 0.3% during the fourth quarter. First Trust Advisors LP now owns 95,908 shares of the software maker’s stock worth $6,248,000 after purchasing an additional 281 shares during the last quarter. MetLife Investment Management LLC lifted its position in Progress Software by 4.0% during the fourth quarter. MetLife Investment Management LLC now owns 25,472 shares of the software maker’s stock valued at $1,660,000 after purchasing an additional 976 shares during the period. Stifel Financial Corp boosted its holdings in Progress Software by 3.7% in the fourth quarter. Stifel Financial Corp now owns 73,391 shares of the software maker’s stock valued at $4,781,000 after purchasing an additional 2,595 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in Progress Software by 260.6% during the 4th quarter. Hsbc Holdings PLC now owns 103,592 shares of the software maker’s stock worth $6,744,000 after purchasing an additional 74,864 shares during the period.

Progress Software Company Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.