PEAK6 LLC Invests $465,000 in Progress Software Corporation $PRGS

PEAK6 LLC acquired a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,850 shares of the software maker’s stock, valued at approximately $465,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in shares of Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after purchasing an additional 493 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Progress Software in the fourth quarter worth $42,000. Osaic Holdings Inc. lifted its stake in Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after buying an additional 637 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Progress Software during the first quarter worth about $26,000. Finally, Advisors Asset Management Inc. lifted its position in Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 shares during the last quarter.

Insider Activity

In other news, EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by insiders.

Progress Software Price Performance

Shares of Progress Software stock opened at $44.36 on Monday. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $47.37. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. The stock has a market cap of $1.82 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. The company’s 50-day moving average price is $38.26 and its two-hundred day moving average price is $34.51.

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

Wall Street Analyst Weigh In

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

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.