Jupiter Topco LLC Takes Position in Progress Software Corporation $PRGS

Jupiter Topco LLC acquired a new stake in Progress Software Corporation (NASDAQ:PRGS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,257 shares of the software maker’s stock, valued at approximately $648,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in Progress Software during the second quarter worth about $40,780,000. Heron Bay Capital Management acquired a new stake in Progress Software during the second quarter worth $34,011,000. Arrowstreet Capital Limited Partnership raised its position in Progress Software by 133.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock valued at $31,335,000 after purchasing an additional 698,611 shares during the period. LSV Asset Management raised its position in Progress Software by 171.2% in the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after purchasing an additional 619,800 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Progress Software in the 2nd quarter valued at $19,149,000.

Progress Software Price Performance

Shares of NASDAQ:PRGS opened at $44.05 on Monday. Progress Software Corporation has a 12 month low of $23.82 and a 12 month high of $47.37. 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 market capitalization of $1.81 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.85 and a beta of 0.82. The company’s fifty day moving average price is $41.10 and its 200 day moving average price is $34.81.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating 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 firm had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. During the same quarter in the prior year, the firm earned $1.40 EPS. Progress Software’s revenue for the quarter 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, sell-side analysts predict that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Progress Software

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 shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, the executive vice president directly owned 18,370 shares in the company, valued at approximately $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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports 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. 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. Oppenheimer lowered their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and a consensus target price 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.