Van Hulzen Asset Management LLC Makes New Investment in Progress Software Corporation $PRGS

Van Hulzen Asset Management LLC bought a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 36,055 shares of the software maker’s stock, valued at approximately $1,211,000.

Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Progress Software in the 1st quarter worth $26,000. Parallel Advisors LLC increased its holdings in Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after purchasing an additional 653 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Progress Software in the fourth quarter valued at about $42,000. Finally, Advisors Asset Management Inc. lifted its stake in Progress Software by 135.1% in 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.

Progress Software Price Performance

PRGS opened at $43.42 on Tuesday. The stock has a market cap of $1.78 billion, a P/E ratio of 21.08, a P/E/G ratio of 1.86 and a beta 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The company has a fifty day simple moving average of $38.50 and a 200 day simple moving average of $34.54.

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

Insider Buying and Selling at Progress Software

In other news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, the executive vice president owned 18,370 shares in the company, valued at $703,019.90. The trade was a 36.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PRGS. DA Davidson raised their target price on Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research report on Wednesday, July 1st. Finally, Oppenheimer reduced their price objective 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. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

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.