18,700 Shares in Progress Software Corporation $PRGS Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) in the 1st quarter, Holdings Channel reports. The fund purchased 18,700 shares of the software maker’s stock, valued at approximately $480,000.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in shares of Progress Software by 135.1% during the 1st 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 last quarter. AQR Capital Management LLC boosted its holdings in shares of Progress Software by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after buying an additional 6,147 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Progress Software by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after buying an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after buying an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Progress Software by 206.8% during the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after buying an additional 75,044 shares during the last quarter.

Progress Software Stock Down 3.7%

Shares of PRGS opened at $37.76 on Thursday. The firm has a market cap of $1.55 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $53.17. The firm’s 50-day simple moving average is $31.13 and its 200 day simple moving average is $34.74.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company had revenue of $253.47 million during the quarter, compared to analysts’ expectations of $242.74 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. The business’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, analysts forecast that Progress Software Corporation will post 4.77 earnings per share for the current year.

Insider Transactions at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the transaction, the executive vice president directly owned 18,370 shares of the company’s stock, valued at $703,019.90. This represents a 36.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

PRGS has been the topic of several analyst reports. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 16th. Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Oppenheimer dropped their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. DA Davidson reiterated a “buy” rating and issued a $40.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. Finally, Citigroup lowered their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.67.

Progress Software Company Profile

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.