FY2025 EPS Estimate for Progress Software Reduced by Analyst

Progress Software Co. (NASDAQ:PRGS - Free Report) - Equities researchers at DA Davidson dropped their FY2025 earnings estimates for Progress Software in a note issued to investors on Wednesday, January 22nd. DA Davidson analyst L. Schreiner now anticipates that the software maker will post earnings per share of $4.18 for the year, down from their prior estimate of $4.68. DA Davidson has a "Buy" rating and a $75.00 price objective on the stock. The consensus estimate for Progress Software's current full-year earnings is $4.59 per share.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. StockNews.com cut shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday. Guggenheim restated a "buy" rating and issued a $83.00 price target on shares of Progress Software in a research report on Friday, January 17th. Citigroup lifted their target price on Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. Finally, Oppenheimer increased their price target on Progress Software from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.43.

Progress Software Stock Performance

NASDAQ PRGS traded down $1.12 during trading hours on Friday, hitting $53.00. The company had a trading volume of 1,283,900 shares, compared to its average volume of 770,660. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.23 and a current ratio of 0.81. The company has a market cap of $2.30 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 6.24 and a beta of 0.93. The business has a 50 day moving average of $65.69 and a 200-day moving average of $62.33.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in shares of Progress Software during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in Progress Software by 76.7% during the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker's stock worth $75,000 after purchasing an additional 485 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Progress Software by 19.3% during the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker's stock worth $126,000 after purchasing an additional 301 shares during the last quarter. Blue Trust Inc. boosted its position in Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock worth $141,000 after purchasing an additional 394 shares in the last quarter. Finally, KBC Group NV grew its holdings in Progress Software by 44.5% in the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker's stock valued at $152,000 after purchasing an additional 719 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.