Progress Software's (PRGS) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Progress Software (NASDAQ:PRGS - Free Report) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $75.00 price objective on the software maker's stock. Wedbush also issued estimates for Progress Software's Q2 2025 earnings at $1.01 EPS, Q2 2025 earnings at $1.01 EPS, Q3 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.08 EPS, FY2025 earnings at $4.21 EPS, FY2025 earnings at $4.21 EPS, Q1 2026 earnings at $1.28 EPS, Q1 2026 earnings at $1.28 EPS, Q2 2026 earnings at $1.15 EPS, Q2 2026 earnings at $1.15 EPS, Q3 2026 earnings at $1.22 EPS, Q4 2026 earnings at $1.20 EPS, FY2026 earnings at $4.84 EPS and FY2026 earnings at $4.84 EPS.

PRGS has been the subject of several other research reports. Citigroup lifted their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Jefferies Financial Group lifted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a report on Monday, January 6th. DA Davidson restated a "buy" rating and issued a $75.00 target price on shares of Progress Software in a report on Tuesday, January 21st. Guggenheim reiterated a "buy" rating and set a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. Finally, StockNews.com lowered Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Progress Software has an average rating of "Moderate Buy" and a consensus target price of $75.17.

Progress Software Stock Down 3.1 %

Shares of PRGS stock traded down $1.82 on Tuesday, reaching $56.17. 1,034,996 shares of the company were exchanged, compared to its average volume of 547,416. 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 50-day moving average of $55.89 and a 200-day moving average of $62.02. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 2.82 and a beta of 0.88. Progress Software has a one year low of $48.00 and a one year high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, topping 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 business had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. During the same period in the prior year, the business earned $1.25 EPS. The firm's revenue for the quarter was up 28.9% on a year-over-year basis. Analysts anticipate that Progress Software will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Progress Software

Several hedge funds and other institutional investors have recently modified their holdings of PRGS. Bessemer Group Inc. grew its stake in Progress Software by 149.5% during the fourth quarter. Bessemer Group Inc. now owns 494 shares of the software maker's stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Progress Software during the 4th quarter valued at $33,000. Smartleaf Asset Management LLC increased its holdings in shares of Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock worth $50,000 after purchasing an additional 688 shares during the period. GAMMA Investing LLC raised its position in shares of Progress Software by 55.4% in the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker's stock worth $113,000 after buying an additional 619 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of Progress Software by 19.3% in the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker's stock worth $126,000 after buying an additional 301 shares in the last quarter.

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.