Susquehanna Fundamental Investments LLC Sells 12,376 Shares of Progress Software Corporation $PRGS

Susquehanna Fundamental Investments LLC decreased its holdings in Progress Software Corporation (NASDAQ:PRGS) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,620 shares of the software maker’s stock after selling 12,376 shares during the quarter. Susquehanna Fundamental Investments LLC owned 0.25% of Progress Software worth $3,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new stake in shares of Progress Software in the first quarter worth approximately $26,000. Public Employees Retirement System of Ohio purchased a new position in shares of Progress Software during the second quarter valued at approximately $28,000. Parallel Advisors LLC lifted its position in Progress Software by 142.0% during the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after purchasing an additional 653 shares during the period. Hantz Financial Services Inc. boosted its holdings in Progress Software by 194.1% in the fourth 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 last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in Progress Software in the 4th quarter worth approximately $42,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRGS. Oppenheimer lowered their price target on 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 upped their price objective on Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Guggenheim reissued a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Stock Up 3.4%

PRGS opened at $46.27 on Tuesday. The firm’s 50 day simple moving average is $40.00 and its two-hundred day simple moving average is $34.61. The company has a market capitalization of $1.90 billion, a PE ratio of 22.46, a PEG ratio of 1.88 and a beta of 0.80. Progress Software Corporation has a 1-year low of $23.82 and a 1-year 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.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $242.74 million. During the same period in the prior year, the business posted $1.40 EPS. Progress Software’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. As a group, equities analysts forecast that Progress Software Corporation will post 4.77 EPS for the current year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the sale, the executive vice president owned 18,370 shares in the company, valued at $703,019.90. This represents a 36.58% decrease in their ownership of the stock. 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 currently owned by insiders.

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.