SG Americas Securities LLC Purchases 64,624 Shares of Progress Software Corporation $PRGS

SG Americas Securities LLC raised its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 229.2% during the first quarter, HoldingsChannel reports. The firm owned 92,819 shares of the software maker’s stock after purchasing an additional 64,624 shares during the period. SG Americas Securities LLC’s holdings in Progress Software were worth $2,381,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted 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 buying an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in Progress Software during the fourth quarter valued at approximately $42,000. Advisors Asset Management Inc. raised 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 acquiring an additional 604 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Progress Software by 1,042.5% during the fourth quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after acquiring an additional 1,178 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Progress Software by 192.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after acquiring an additional 877 shares during the last quarter.

Progress Software Trading Up 16.6%

NASDAQ:PRGS opened at $39.16 on Thursday. The firm has a market capitalization of $1.65 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.43 and a beta of 0.82. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.97. The company has a fifty day moving average of $30.13 and a 200 day moving average of $34.92. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $56.58.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.17. Progress Software had a net margin of 8.87% and a return on equity of 43.54%. The business had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. During the same quarter last year, the firm earned $1.40 EPS. The company’s 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, research analysts predict that Progress Software Corporation will post 4.68 earnings per share for the current year.

More Progress Software News

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Progress Software delivered fiscal Q2 EPS of $1.62, above estimates, on revenue of $253.5 million that also topped forecasts; revenue rose 6.8% year over year. MarketBeat earnings report
• Positive Sentiment: The company raised fiscal 2026 EPS guidance to $6.09-$6.21 and Q3 EPS guidance to $1.53-$1.59, signaling management confidence after the beat. Progress Software financial results
• Positive Sentiment: Analysts were constructive after the results, with Oppenheimer calling Q2 “solid,” and other firms reaffirming buy/outperform ratings, supporting the post-earnings momentum. Seeking Alpha Oppenheimer note
• Positive Sentiment: The company also highlighted AI-related demand and launched Progress Chef Enterprise Management for NVIDIA DGX Spark, adding another potential growth catalyst. Progress Software AI product launch
• Neutral Sentiment: Oppenheimer trimmed its price target to $50 from $57, though it kept an outperform rating, suggesting valuation remains a discussion point despite the upbeat quarter. Benzinga analyst update
• Neutral Sentiment: DA Davidson reaffirmed a buy rating with a $40 target, indicating mixed but still supportive analyst sentiment after the earnings release. Benzinga analyst update

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush reduced their target price on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th. Citigroup cut their price target on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. DA Davidson reiterated a “buy” rating and issued a $40.00 price objective on shares of Progress Software in a report on Wednesday. Finally, Jefferies Financial Group lowered their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.67.

About Progress Software

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.