Progress Software Corporation $PRGS Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 29.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 672,685 shares of the software maker’s stock after acquiring an additional 151,800 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.56% of Progress Software worth $34,650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC bought a new position in shares of Progress Software during the 4th quarter valued at about $33,000. Nisa Investment Advisors LLC lifted its stake in Progress Software by 25.0% during the first quarter. Nisa Investment Advisors LLC now owns 1,629 shares of the software maker’s stock valued at $84,000 after purchasing an additional 326 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Progress Software during the first quarter worth approximately $206,000. Dakota Wealth Management acquired a new position in Progress Software in the first quarter worth approximately $224,000. Finally, Cetera Investment Advisers grew its position in Progress Software by 8.3% in the fourth quarter. Cetera Investment Advisers now owns 4,796 shares of the software maker’s stock worth $312,000 after buying an additional 367 shares during the last quarter.

Insider Buying and Selling at Progress Software

In other news, Director Rainer Gawlick acquired 1,710 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $43.48 per share, for a total transaction of $74,350.80. Following the completion of the acquisition, the director owned 55,544 shares in the company, valued at approximately $2,415,053.12. The trade was a 3.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 5,529 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the completion of the transaction, the chief financial officer owned 43,559 shares in the company, valued at $2,307,320.23. This trade represents a 11.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Progress Software Stock Down 0.0%

Shares of Progress Software stock opened at $46.29 on Tuesday. Progress Software Corporation has a 1 year low of $42.88 and a 1 year high of $70.56. The company has a market cap 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. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43. 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 issued its earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. The company had revenue of $237.36 million for the quarter, compared to the consensus estimate of $237.23 million. Progress Software had a return on equity of 43.72% and a net margin of 6.63%.The firm’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company 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, analysts expect that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating on shares of Progress Software in a research note on Friday, June 27th. Wall Street Zen lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 5th. Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, June 27th. Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Finally, Citigroup dropped their target price on shares of Progress Software from $64.00 to $57.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.33.

About Progress Software

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.