Q3 EPS Estimate for Progress Software Increased by Analyst

Progress Software Co. (NASDAQ:PRGS - Free Report) - Investment analysts at Wedbush lifted their Q3 2026 earnings per share estimates for Progress Software in a research note issued on Tuesday, April 1st. Wedbush analyst D. Ives now expects that the software maker will earn $1.22 per share for the quarter, up from their prior estimate of $1.16. Wedbush has a "Outperform" rating and a $75.00 price objective on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.01 per share. Wedbush also issued estimates for Progress Software's Q4 2026 earnings at $1.20 EPS.

Several other research firms also recently commented on PRGS. Guggenheim reissued a "buy" rating and issued a $83.00 target price on shares of Progress Software in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. StockNews.com lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. DA Davidson reiterated a "buy" rating and issued a $75.00 target price on shares of Progress Software in a research note on Tuesday, January 21st. Finally, Citigroup increased their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.17.

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Progress Software Stock Down 3.1 %

Shares of Progress Software stock traded down $1.82 during midday trading on Thursday, hitting $56.17. The company had a trading volume of 1,034,996 shares, compared to its average volume of 548,416. Progress Software has a 52-week low of $48.00 and a 52-week high of $70.56. 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 $2.42 billion, a P/E ratio of 36.01, a P/E/G ratio of 2.82 and a beta of 0.88. The company has a 50 day moving average of $55.89 and a 200 day moving average of $62.04.

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

Institutional Investors Weigh In On Progress Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Progress Software by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock valued at $381,487,000 after buying an additional 45,246 shares during the period. Pacer Advisors Inc. grew 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 valued at $74,474,000 after acquiring an additional 1,140,626 shares during the period. Principal Financial Group Inc. increased its stake in shares of Progress Software by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock worth $70,418,000 after purchasing an additional 43,936 shares in the last quarter. Geode Capital Management LLC raised its holdings in Progress Software by 0.5% in 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 period. Finally, Invesco Ltd. lifted its position in Progress Software by 0.7% during the fourth 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 Buying and Selling at Progress Software

In related news, CFO Anthony Folger sold 15,000 shares of Progress Software 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 sale, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ian Pitt sold 1,482 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the transaction, the insider now directly owns 7,613 shares in the company, valued at approximately $430,895.80. This represents a 16.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,482 shares of company stock worth $984,621. Company insiders own 3.40% 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.