Vise Technologies Inc. Takes $228,000 Position in Progress Software Corporation $PRGS

Vise Technologies Inc. purchased a new position in shares of Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,579 shares of the software maker’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maseco LLP bought a new stake in Progress Software in the 2nd quarter valued at about $28,000. Quaker Wealth Management LLC raised its position in shares of Progress Software by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock valued at $29,000 after buying an additional 900 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Progress Software by 59.5% in the second quarter. GAMMA Investing LLC now owns 1,463 shares of the software maker’s stock valued at $93,000 after buying an additional 546 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Progress Software by 2,366.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,776 shares of the software maker’s stock worth $113,000 after buying an additional 1,704 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Anthony Folger sold 5,474 shares of Progress Software stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $46.47, for a total transaction of $254,376.78. Following the sale, the chief financial officer directly owned 42,559 shares of the company’s stock, valued at approximately $1,977,716.73. The trade was a 11.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yufan Stephanie Wang sold 1,428 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $46.26, for a total transaction of $66,059.28. Following the transaction, the insider owned 668 shares of the company’s stock, valued at approximately $30,901.68. This represents a 68.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 7,311 shares of company stock worth $339,332. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRGS shares. Citigroup upgraded Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Monday, October 13th. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. DA Davidson restated a “buy” rating and issued a $75.00 price target on shares of Progress Software in a research report on Tuesday, September 30th. Jefferies Financial Group cut their price objective on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, September 30th. Finally, Wall Street Zen upgraded shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Progress Software Trading Down 5.3%

Shares of PRGS opened at $39.79 on Tuesday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.44 and a current ratio of 0.44. Progress Software Corporation has a 52-week low of $39.77 and a 52-week high of $70.56. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 1.95 and a beta of 0.67. The business’s fifty day moving average is $43.67 and its 200-day moving average is $50.60.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Monday, September 29th. The software maker reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.20. Progress Software had a return on equity of 43.68% and a net margin of 5.16%.The business had revenue of $249.80 million for the quarter, compared to analyst estimates of $240.11 million. During the same period last year, the firm posted $1.26 earnings per share. Progress Software’s revenue was up 39.8% compared to the same quarter last year. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS. Q4 2025 guidance at 1.290-1.350 EPS. Equities analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

About Progress Software

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.