Man Group plc Takes Position in Progress Software Corporation $PRGS

Man Group plc acquired a new position in shares of Progress Software Corporation (NASDAQ:PRGS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,678 shares of the software maker’s stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. raised its position in shares of Progress Software by 37.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock valued at $5,359,000 after buying an additional 33,800 shares during the last quarter. Dana Investment Advisors Inc. purchased a new stake in Progress Software in the 4th quarter worth approximately $6,011,000. LSV Asset Management raised its holdings in Progress Software by 171.2% in 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. Fox Run Management L.L.C. purchased a new position in shares of Progress Software during the 4th quarter worth $1,470,000. Finally, Rice Hall James & Associates LLC grew its position in shares of Progress Software by 27.2% in the first quarter. Rice Hall James & Associates LLC now owns 452,702 shares of the software maker’s stock valued at $11,612,000 after purchasing an additional 96,793 shares during the period.

Progress Software Trading Down 1.3%

NASDAQ PRGS opened at $44.05 on Friday. Progress Software Corporation has a one year low of $23.82 and a one year high of $47.37. The company’s 50 day moving average price is $41.10 and its 200 day moving average price is $34.82. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.87 and a beta of 0.82.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $242.74 million. During the same quarter in the prior year, the business earned $1.40 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. 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, sell-side analysts predict that Progress Software Corporation will post 4.77 EPS for the current year.

Insider Activity at Progress Software

In other news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were 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 approximately $703,019.90. This represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PRGS. DA Davidson raised their price target on Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Oppenheimer dropped their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.