Progress Software Corporation (NASDAQ:PRGS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Progress Software Corporation (NASDAQ:PRGS) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $64.60.

Several brokerages recently weighed in on PRGS. Citigroup lifted their price objective on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Wedbush cut their target price on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. DA Davidson lowered their price target on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd.

Insider Activity at Progress Software

In other news, EVP Sundar Subramanian sold 1,352 shares of Progress Software stock in a transaction on Monday, January 26th. The stock was sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the transaction, the executive vice president directly owned 29,066 shares in the company, valued at approximately $1,231,526.42. The trade was a 4.44% 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 the SEC website. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Progress Software

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Maseco LLP purchased a new position in Progress Software during the second quarter valued at approximately $28,000. Quaker Wealth Management LLC boosted its holdings in Progress Software by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock valued at $29,000 after purchasing an additional 900 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Progress Software during the 2nd quarter valued at $41,000. Advisors Asset Management Inc. increased its holdings in shares of Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Progress Software by 183.0% in 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 in the last quarter.

Progress Software Stock Down 2.9%

PRGS opened at $41.66 on Friday. Progress Software has a twelve month low of $38.54 and a twelve month high of $65.50. The company’s 50-day moving average price is $42.37 and its two-hundred day moving average price is $43.96. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.88 and a beta of 0.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18.

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