Quantinno Capital Management LP Decreases Stock Holdings in Progress Software Corporation $PRGS

Quantinno Capital Management LP reduced its position in Progress Software Corporation (NASDAQ:PRGS) by 48.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,379 shares of the software maker’s stock after selling 20,343 shares during the period. Quantinno Capital Management LP owned 0.05% of Progress Software worth $548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after acquiring an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Progress Software in the fourth quarter worth $42,000. Osaic Holdings Inc. grew its holdings in Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after purchasing an additional 637 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Progress Software during the first quarter worth $26,000. Finally, Advisors Asset Management Inc. increased its position 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 in the last quarter.

Progress Software Stock Down 1.4%

Progress Software stock opened at $43.21 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $38.00 and its two-hundred day simple moving average is $34.49. The company has a market cap of $1.77 billion, a PE ratio of 20.98, a PEG ratio of 1.84 and a beta of 0.81. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $47.37.

Progress Software (NASDAQ:PRGS) last posted 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 $1.46 by $0.16. The company had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. Progress Software’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $1.40 EPS. 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. Equities analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current year.

Insider Activity at Progress Software

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. DA Davidson raised their price objective on Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Oppenheimer lowered their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Finally, Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Progress Software has an average rating of “Moderate Buy” and an average target price of $52.17.

Progress Software 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.