DA Davidson Cuts Progress Software (NASDAQ:PRGS) Price Target to $50.00

Progress Software (NASDAQ:PRGS) had its price objective cut by DA Davidson from $70.00 to $50.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research firms also recently commented on PRGS. Jefferies Financial Group decreased their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. 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 report on Thursday, January 22nd. Finally, Citigroup boosted their price objective on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and an average price target of $60.60.

Progress Software Price Performance

PRGS stock opened at $27.67 on Wednesday. Progress Software has a 52-week low of $26.85 and a 52-week high of $65.50. 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 capitalization of $1.16 billion, a PE ratio of 16.67, a P/E/G ratio of 1.28 and a beta of 0.57. The stock’s 50 day moving average is $37.90 and its two-hundred day moving average is $41.29.

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

Insiders Place Their Bets

In related news, EVP Sundar Subramanian sold 1,600 shares of Progress Software stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total value of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares in the company, valued at $594,947.76. This trade represents a 9.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of Progress Software 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 completion of the sale, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. This represents a 10.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,546 shares of company stock worth $1,171,546 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Progress Software

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Progress Software by 0.7% during the second quarter. Russell Investments Group Ltd. now owns 37,067 shares of the software maker’s stock worth $2,366,000 after buying an additional 241 shares during the period. ProShare Advisors LLC increased its position in Progress Software by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker’s stock valued at $358,000 after acquiring an additional 258 shares during the period. F m Investments LLC increased its position in Progress Software by 0.5% in the 2nd quarter. F m Investments LLC now owns 54,408 shares of the software maker’s stock valued at $3,473,000 after acquiring an additional 271 shares during the period. California State Teachers Retirement System raised its stake in Progress Software by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock valued at $2,531,000 after acquiring an additional 333 shares in the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in Progress Software by 4.7% during the 2nd quarter. Integrated Investment Consultants LLC now owns 8,257 shares of the software maker’s stock valued at $527,000 after acquiring an additional 372 shares in the last quarter.

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.