Insider Selling: Progress Software (NASDAQ:PRGS) EVP Sells $405,547.19 in Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the transaction, the executive vice president owned 18,370 shares of the company’s stock, valued at $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Stock Down 3.7%

Shares of PRGS opened at $37.76 on Thursday. Progress Software Corporation has a one year low of $23.82 and a one year high of $53.17. The company has a market cap of $1.55 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.65 and a beta of 0.82. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $31.13 and a two-hundred day simple moving average of $34.74.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating 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 firm had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same quarter last year, the business posted $1.40 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. 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. Research analysts forecast that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

Analyst Ratings Changes

PRGS has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research report on Wednesday, July 1st. Oppenheimer decreased their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Wedbush dropped their price target on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Finally, Jefferies Financial Group cut their price objective on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

Hedge Funds Weigh In On Progress Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chesley Taft & Associates LLC raised its stake in shares of Progress Software by 8.1% during the second quarter. Chesley Taft & Associates LLC now owns 9,182 shares of the software maker’s stock valued at $308,000 after acquiring an additional 685 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Progress Software by 23.9% in the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock worth $71,000 after purchasing an additional 410 shares during the last quarter. Moody National Bank Trust Division increased its holdings in Progress Software by 1.3% in the second quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker’s stock valued at $948,000 after purchasing an additional 357 shares during the period. Versant Capital Management Inc increased its holdings in Progress Software by 461.6% in the second quarter. Versant Capital Management Inc now owns 2,645 shares of the software maker’s stock valued at $89,000 after purchasing an additional 2,174 shares during the period. Finally, Pacer Advisors Inc. raised its position in Progress Software by 14,333.9% during the 1st quarter. Pacer Advisors Inc. now owns 259,378 shares of the software maker’s stock worth $6,653,000 after purchasing an additional 257,581 shares during the last quarter.

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.