Intech Investment Management LLC Sells 19,688 Shares of Progress Software Corporation $PRGS

Intech Investment Management LLC lowered its holdings in Progress Software Corporation (NASDAQ:PRGS) by 43.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,165 shares of the software maker’s stock after selling 19,688 shares during the period. Intech Investment Management LLC’s holdings in Progress Software were worth $1,105,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares during the period. AQR Capital Management LLC lifted its stake in Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after acquiring an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Progress Software by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after acquiring an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after acquiring an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after purchasing an additional 75,044 shares during the period.

Insider Activity

In related 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 transaction of $240,000.00. Following the sale, the chief financial officer owned 48,802 shares of the company’s stock, valued at $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sundar Subramanian sold 1,352 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $42.37, for a total transaction of $57,284.24. Following the completion of the sale, the executive vice president owned 29,066 shares in the company, valued at approximately $1,231,526.42. This trade represents a 4.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.40% of the company’s stock.

Progress Software Price Performance

PRGS opened at $39.49 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 1.73 and a beta of 0.57. The stock has a fifty day simple moving average of $40.75 and a two-hundred day simple moving average of $42.59. Progress Software Corporation has a 12-month low of $34.57 and a 12-month high of $65.50.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. 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 predict that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. Jefferies Financial Group reduced their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Wedbush decreased their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Citigroup raised their price objective on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.60.

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.