Progress Software (NASDAQ:PRGS) Trading Down 8.4% – Here’s What Happened

Progress Software Corporation (NASDAQ:PRGS)’s share price was down 8.4% during trading on Monday . The stock traded as low as $38.83 and last traded at $38.3490. Approximately 567,218 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 1,104,734 shares. The stock had previously closed at $41.88.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PRGS shares. Jefferies Financial Group lowered their price objective on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Citigroup lifted their price target on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wedbush lowered their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. DA Davidson restated a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a research note on Wednesday, February 4th. Finally, Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Trading Down 7.9%

The company’s fifty day moving average price is $41.15 and its two-hundred day moving average price is $42.79. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The business had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. During the same period in the prior year, the company earned $1.33 EPS. Progress Software’s revenue for the quarter was up 17.5% on a year-over-year basis. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. Research analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current year.

Insider Transactions at Progress Software

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sundar Subramanian sold 1,352 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $42.37, for a total transaction of $57,284.24. Following the transaction, the executive vice president owned 29,066 shares in the company, valued at $1,231,526.42. The trade was a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. DLD Asset Management LP lifted its holdings in Progress Software by 31.5% during the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after buying an additional 10,300,000 shares in the last quarter. LSV Asset Management raised its position in shares of Progress Software by 171.2% during the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after acquiring an additional 619,800 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Progress Software during the third quarter valued at $16,324,000. Marshall Wace LLP boosted its holdings in Progress Software by 732.6% in the third quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock valued at $15,700,000 after acquiring an additional 314,459 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in Progress Software by 145.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock worth $20,410,000 after purchasing an additional 275,205 shares during the period.

Progress Software Company Profile

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.