Wedbush Decreases Earnings Estimates for Progress Software

Progress Software Co. (NASDAQ:PRGS - Free Report) - Investment analysts at Wedbush dropped their Q1 2025 earnings per share (EPS) estimates for shares of Progress Software in a report released on Wednesday, January 22nd. Wedbush analyst D. Ives now anticipates that the software maker will post earnings per share of $0.79 for the quarter, down from their previous estimate of $1.00. The consensus estimate for Progress Software's current full-year earnings is $4.59 per share. Wedbush also issued estimates for Progress Software's Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $1.35 EPS, FY2025 earnings at $4.00 EPS and Q2 2026 earnings at $1.07 EPS.

A number of other equities analysts have also recently weighed in on the stock. Oppenheimer upped their price objective on shares of Progress Software from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Citigroup upped their price target on shares of Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Guggenheim reiterated a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, January 17th. StockNews.com cut Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday. Finally, DA Davidson reaffirmed a "buy" rating and issued a $75.00 price target on shares of Progress Software in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Progress Software currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.43.

Progress Software Price Performance

Shares of NASDAQ:PRGS traded up $1.50 during trading on Monday, reaching $54.50. 1,418,976 shares of the company's stock traded hands, compared to its average volume of 811,186. The company has a quick ratio of 1.23, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a 50-day simple moving average of $65.69 and a 200-day simple moving average of $62.46. The firm has a market cap of $2.36 billion, a PE ratio of 34.94, a P/E/G ratio of 6.24 and a beta of 0.93.

Institutional Investors Weigh In On Progress Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRGS. Pacer Advisors Inc. increased its position in shares of Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock worth $74,474,000 after purchasing an additional 1,140,626 shares during the last quarter. Principal Financial Group Inc. increased its position 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 during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Progress Software by 11.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker's stock valued at $64,985,000 after acquiring an additional 99,479 shares during the last quarter. Seizert Capital Partners LLC raised its stake in shares of Progress Software by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker's stock valued at $43,463,000 after acquiring an additional 20,355 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Progress Software by 74.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker's stock worth $39,728,000 after acquiring an additional 251,125 shares during 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.