Progress Software (NASDAQ:PRGS) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Progress Software (NASDAQ:PRGS) from a buy rating to a hold rating in a research note issued to investors on Saturday.

PRGS has been the subject of several other research reports. Citigroup dropped their price target on shares of Progress Software from $64.00 to $57.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Guggenheim reissued a “buy” rating and set a $83.00 price target on shares of Progress Software in a research report on Friday, June 27th. DA Davidson increased their price target 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. Jefferies Financial Group reissued a “hold” rating on shares of Progress Software in a research report on Friday, June 27th. Finally, Wedbush reissued an “outperform” rating and set a $75.00 price target on shares of Progress Software in a research report on Friday, June 27th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.33.

Progress Software Price Performance

PRGS stock opened at $41.94 on Friday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43. Progress Software has a 52 week low of $41.85 and a 52 week high of $70.56. The firm’s fifty day moving average is $46.54 and its 200 day moving average is $54.62. The firm has a market cap of $1.81 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.04 and a beta of 0.68.

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

Insider Transactions at Progress Software

In other news, CFO Anthony Folger sold 5,529 shares of the firm’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 sale, the chief financial officer directly owned 43,559 shares of the company’s stock, valued at approximately $2,307,320.23. This trade represents a 11.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rainer Gawlick bought 1,710 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $43.48 per share, with a total value of $74,350.80. Following the completion of the transaction, the director owned 55,544 shares in the company, valued at approximately $2,415,053.12. This trade represents a 3.18% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. QRG Capital Management Inc. increased its stake in shares of Progress Software by 1.8% in the 1st quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker’s stock worth $546,000 after acquiring an additional 187 shares in the last quarter. LPL Financial LLC raised its holdings in Progress Software by 1,161.5% in the first quarter. LPL Financial LLC now owns 48,112 shares of the software maker’s stock worth $2,478,000 after buying an additional 44,298 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Progress Software by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,409 shares of the software maker’s stock worth $433,000 after buying an additional 694 shares during the last quarter. Natixis Advisors LLC purchased a new position in Progress Software in the first quarter worth about $693,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Progress Software by 2.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 501,652 shares of the software maker’s stock worth $25,840,000 after buying an additional 9,852 shares during the last quarter.

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.