First Trust Advisors LP Boosts Stock Position in Progress Software Corporation $PRGS

First Trust Advisors LP grew its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 179.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,978 shares of the software maker’s stock after buying an additional 50,112 shares during the quarter. First Trust Advisors LP’s holdings in Progress Software were worth $2,000,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Progress Software by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock worth $31,659,000 after buying an additional 121,314 shares during the last quarter. Geode Capital Management LLC boosted its stake in Progress Software by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after acquiring an additional 6,095 shares during the last quarter. LSV Asset Management boosted its stake in Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after acquiring an additional 619,800 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Progress Software by 2.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 931,070 shares of the software maker’s stock worth $39,999,000 after acquiring an additional 24,659 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Progress Software by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after acquiring an additional 241,515 shares in the last quarter.

Analyst Ratings Changes

PRGS has been the topic of a number of recent analyst reports. Oppenheimer cut their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Guggenheim reiterated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Wednesday, July 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Progress Software in a report on Tuesday, July 14th. Finally, DA Davidson upped their price objective on Progress Software from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Insider Transactions at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 18,370 shares in the company, valued at $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by corporate insiders.

Progress Software Stock Performance

Progress Software stock opened at $42.84 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. Progress Software Corporation has a 12 month low of $23.82 and a 12 month high of $47.37. The company has a fifty day moving average price of $35.97 and a two-hundred day moving average price of $34.40. The company has a market cap of $1.76 billion, a PE ratio of 20.80, a P/E/G ratio of 1.80 and a beta of 0.81.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The company had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same period last year, the firm posted $1.40 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. 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. Research analysts expect that Progress Software Corporation will post 4.77 earnings per share for the current year.

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.