Kennedy Capital Management LLC Has $11.25 Million Stock Holdings in Progress Software Corporation $PRGS

Kennedy Capital Management LLC grew its position in Progress Software Corporation (NASDAQ:PRGS) by 12.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 176,141 shares of the software maker’s stock after purchasing an additional 20,079 shares during the period. Kennedy Capital Management LLC’s holdings in Progress Software were worth $11,245,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Maseco LLP bought a new stake in Progress Software during the 2nd quarter worth about $28,000. Quaker Wealth Management LLC lifted its holdings in Progress Software by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock valued at $29,000 after buying an additional 900 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Progress Software in the second quarter valued at approximately $41,000. Advisors Asset Management Inc. grew its stake in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Progress Software by 59.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,463 shares of the software maker’s stock worth $93,000 after buying an additional 546 shares during the period.

Insider Buying and Selling at Progress Software

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $46.26, for a total value of $66,059.28. Following the sale, the insider directly owned 668 shares in the company, valued at approximately $30,901.68. The trade was a 68.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony Folger sold 5,474 shares of the stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $46.47, for a total transaction of $254,376.78. Following the transaction, the chief financial officer owned 42,559 shares of the company’s stock, valued at approximately $1,977,716.73. This represents a 11.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,311 shares of company stock valued at $339,332 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. DA Davidson reissued a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, September 30th. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Citigroup raised shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Monday, October 13th. Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group dropped their price objective on Progress Software from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, September 30th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.00.

Progress Software Trading Down 0.1%

Shares of NASDAQ:PRGS opened at $43.33 on Friday. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 1.91 and a beta of 0.64. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.22. Progress Software Corporation has a 12 month low of $39.00 and a 12 month high of $69.88. The company’s fifty day simple moving average is $43.47 and its 200 day simple moving average is $48.91.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Monday, September 29th. The software maker reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.20. The firm had revenue of $249.80 million for the quarter, compared to the consensus estimate of $240.11 million. Progress Software had a return on equity of 43.68% and a net margin of 5.16%.The company’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS and its Q4 2025 guidance at 1.290-1.350 EPS. As a group, research analysts forecast that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Progress Software 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.