11,817 Shares in Progress Software Corporation $PRGS Acquired by State of Wyoming

State of Wyoming acquired a new stake in Progress Software Corporation (NASDAQ:PRGS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,817 shares of the software maker’s stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRGS. Dimensional Fund Advisors LP boosted its stake in Progress Software by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock worth $31,659,000 after purchasing an additional 121,314 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Progress Software by 133.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after buying an additional 698,611 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Progress Software by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after buying an additional 6,095 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Progress Software by 15.0% in the first quarter. The Manufacturers Life Insurance Company now owns 1,070,327 shares of the software maker’s stock worth $27,454,000 after buying an additional 139,257 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of Progress Software by 171.2% in the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after buying an additional 619,800 shares in the last quarter.

Progress Software Price Performance

NASDAQ:PRGS opened at $43.22 on Wednesday. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $47.37. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $1.77 billion, a P/E ratio of 20.98, a P/E/G ratio of 1.84 and a beta of 0.80. The stock’s fifty day moving average is $37.53 and its two-hundred day moving average is $34.44.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. The business had revenue of $253.47 million during the quarter, compared to analysts’ expectations of $242.74 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Equities analysts expect that Progress Software Corporation will post 4.77 EPS for the current year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the transaction, the executive vice president owned 18,370 shares of the company’s stock, valued at $703,019.90. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Guggenheim restated a “buy” rating and set a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Finally, Oppenheimer dropped their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

About Progress Software

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.