Glenmede Trust Co. NA Has $8.01 Million Stock Holdings in Progress Software Corporation $PRGS

Glenmede Trust Co. NA grew its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 15.4% in the first quarter, HoldingsChannel reports. The fund owned 312,282 shares of the software maker’s stock after acquiring an additional 41,600 shares during the period. Glenmede Trust Co. NA’s holdings in Progress Software were worth $8,010,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRGS. Janus Henderson Group PLC raised its holdings in shares of Progress Software by 6.3% in the first quarter. Janus Henderson Group PLC now owns 48,038 shares of the software maker’s stock valued at $1,232,000 after purchasing an additional 2,828 shares during the last quarter. Amundi boosted its holdings in Progress Software by 94.6% during the first quarter. Amundi now owns 20,208 shares of the software maker’s stock worth $518,000 after purchasing an additional 9,825 shares during the last quarter. California State Teachers Retirement System grew its position in Progress Software by 29.4% in the first quarter. California State Teachers Retirement System now owns 53,043 shares of the software maker’s stock valued at $1,361,000 after purchasing an additional 12,045 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in 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 valued at $27,454,000 after purchasing an additional 139,257 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Progress Software by 27.2% in the 1st quarter. Rice Hall James & Associates LLC now owns 452,702 shares of the software maker’s stock valued at $11,612,000 after buying an additional 96,793 shares during the last quarter.

Progress Software Stock Up 2.2%

Progress Software stock opened at $41.50 on Tuesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $35.05 and its 200-day moving average is $34.31. The firm has a market capitalization of $1.70 billion, a PE ratio of 20.15, a P/E/G ratio of 1.70 and a beta of 0.80. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $47.37.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.16. The business had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. Progress Software’s revenue was up 6.8% on a year-over-year basis. During the same period last 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. Sell-side analysts anticipate that Progress Software Corporation will post 4.77 earnings per share for the current year.

Insider Buying and Selling at Progress Software

In related news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the sale, the executive vice president owned 18,370 shares in the company, valued at approximately $703,019.90. This represents a 36.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRGS. Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Oppenheimer dropped their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. DA Davidson raised their price target on Progress Software from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Progress Software in a research report on Tuesday, July 14th. Five investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

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.