FY2025 EPS Forecast for Progress Software Boosted by Analyst

Progress Software Co. (NASDAQ:PRGS - Free Report) - Equities researchers at DA Davidson raised their FY2025 earnings per share (EPS) estimates for Progress Software in a report released on Tuesday, April 1st. DA Davidson analyst L. Schreiner now forecasts that the software maker will post earnings of $4.17 per share for the year, up from their prior forecast of $4.03. DA Davidson currently has a "Buy" rating and a $75.00 target price on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.01 per share.

PRGS has been the topic of several other reports. Citigroup raised their target price on shares of Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. Wedbush restated an "outperform" rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Jefferies Financial Group upped their target price on Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Monday, January 6th. StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Guggenheim reaffirmed a "buy" rating and set a $83.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.17.

Remove Ads

Progress Software Stock Performance

Progress Software stock traded up $0.18 during midday trading on Thursday, hitting $56.63. The company's stock had a trading volume of 188,880 shares, compared to its average volume of 549,164. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 2.82 and a beta of 0.85. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56. The company has a 50-day moving average price of $55.93 and a two-hundred day moving average price of $62.07.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.27. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The firm had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. During the same period in the prior year, the firm posted $1.25 EPS. The company's revenue for the quarter was up 28.9% on a year-over-year basis.

Insider Activity at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the sale, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock valued at $984,621 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Progress Software

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Progress Software by 2,620.9% in the first quarter. GAMMA Investing LLC now owns 47,235 shares of the software maker's stock valued at $2,433,000 after purchasing an additional 45,499 shares during the last quarter. Moody National Bank Trust Division raised its holdings in Progress Software by 17.7% in the 1st quarter. Moody National Bank Trust Division now owns 22,240 shares of the software maker's stock valued at $1,146,000 after buying an additional 3,341 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Progress Software during the 4th quarter worth approximately $7,966,000. Mackenzie Financial Corp grew its holdings in Progress Software by 22.2% during the 4th quarter. Mackenzie Financial Corp now owns 36,562 shares of the software maker's stock worth $2,382,000 after acquiring an additional 6,640 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new position in Progress Software in the 4th quarter valued at approximately $33,000.

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.