Principal Financial Group Inc. Sells 70,297 Shares of Progress Software Corporation $PRGS

Principal Financial Group Inc. trimmed its stake in Progress Software Corporation (NASDAQ:PRGS) by 7.7% in the third quarter, HoldingsChannel.com reports. The firm owned 843,569 shares of the software maker’s stock after selling 70,297 shares during the period. Principal Financial Group Inc.’s holdings in Progress Software were worth $37,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRGS. Quaker Wealth Management LLC raised its position in shares of Progress Software by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock worth $29,000 after acquiring an additional 900 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Progress Software during the 2nd quarter worth approximately $41,000. Advisors Asset Management Inc. boosted its stake in shares of Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after buying an additional 637 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Progress Software by 2,366.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,776 shares of the software maker’s stock worth $113,000 after purchasing an additional 1,704 shares during the period.

Insider Activity

In other Progress Software news, EVP Sundar Subramanian sold 1,352 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the sale, the executive vice president directly owned 29,066 shares of the company’s stock, valued at approximately $1,231,526.42. This represents a 4.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer directly owned 48,802 shares in the company, valued at approximately $1,952,080. This represents a 10.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.40% of the company’s stock.

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $41.41 on Friday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.79 and a beta of 0.59. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. Progress Software Corporation has a fifty-two week low of $38.54 and a fifty-two week high of $65.50. The firm’s 50-day simple moving average is $42.40 and its 200 day simple moving average is $43.66.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRGS shares. DA Davidson reiterated a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a research note on Wednesday. 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 research note on Thursday, January 22nd. Citigroup increased their price objective on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group cut their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software 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.