DA Davidson Has Pessimistic Outlook of PRGS FY2025 Earnings

Progress Software Co. (NASDAQ:PRGS - Free Report) - Research analysts at DA Davidson lowered their FY2025 earnings per share (EPS) estimates for Progress Software in a note issued to investors on Tuesday, April 15th. DA Davidson analyst L. Schreiner now anticipates that the software maker will post earnings of $4.08 per share for the year, down from their previous forecast of $4.16. DA Davidson currently has a "Buy" rating and a $70.00 target price on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.01 per share. DA Davidson also issued estimates for Progress Software's FY2026 earnings at $4.43 EPS.

A number of other equities research analysts also recently issued reports on the stock. Guggenheim reaffirmed a "buy" rating and set a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Jefferies Financial Group increased their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, January 6th. 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 reissued an "outperform" rating and issued a $75.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Finally, StockNews.com lowered Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.33.

Progress Software Price Performance

NASDAQ:PRGS traded down $0.07 during trading hours on Thursday, reaching $56.00. The stock had a trading volume of 433,099 shares, compared to its average volume of 554,190. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $2.41 billion, a PE ratio of 35.90, a PEG ratio of 2.82 and a beta of 0.85. Progress Software has a 52 week low of $48.00 and a 52 week high of $70.56. The company has a 50 day moving average price of $55.80 and a two-hundred day moving average price of $61.59.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its earnings results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.04 by $0.27. The firm had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The company's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share.

Hedge Funds Weigh In On Progress Software

Several institutional investors and hedge funds have recently bought and sold shares of PRGS. Vanguard Group Inc. grew its stake in Progress Software by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock worth $381,487,000 after buying an additional 45,246 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Progress Software by 45,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock worth $74,474,000 after acquiring an additional 1,140,626 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Progress Software by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock valued at $70,418,000 after acquiring an additional 43,936 shares in the last quarter. Geode Capital Management LLC grew its position in Progress Software by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,013,411 shares of the software maker's stock worth $66,039,000 after purchasing an additional 4,927 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Progress Software by 0.7% during the 4th quarter. Invesco Ltd. now owns 802,523 shares of the software maker's stock valued at $52,284,000 after purchasing an additional 5,474 shares in the last quarter.

Insider Activity at Progress Software

In other news, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the transaction, the insider now directly owns 7,613 shares in the company, valued at approximately $430,895.80. This trade represents a 16.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the sale, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,185 shares of company stock worth $1,024,193. Company insiders own 3.60% of the company's stock.

Progress Software Company Profile

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.