Progress Software Corporation (NASDAQ:PRGS) Short Interest Up 14.3% in February

Progress Software Corporation (NASDAQ:PRGS) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 4,346,139 shares, a growth of 14.3% from the February 12th total of 3,802,482 shares. Based on an average daily volume of 1,421,542 shares, the short-interest ratio is currently 3.1 days. Currently, 10.7% of the company’s shares are sold short. Currently, 10.7% of the company’s shares are sold short. Based on an average daily volume of 1,421,542 shares, the short-interest ratio is currently 3.1 days.

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction on Tuesday, February 3rd. The shares were 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 of the company’s stock, valued at $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sundar Subramanian sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total transaction of $61,248.00. Following the completion of the transaction, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $594,947.76. This trade represents a 9.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,546 shares of company stock worth $1,171,546. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Progress Software

Several hedge funds have recently modified their holdings of PRGS. Rockefeller Capital Management L.P. raised its holdings in Progress Software by 192.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after acquiring an additional 877 shares in the last quarter. Hsbc Holdings PLC grew its stake in Progress Software by 19.8% in the fourth quarter. Hsbc Holdings PLC now owns 30,893 shares of the software maker’s stock valued at $1,327,000 after purchasing an additional 5,096 shares in the last quarter. MidFirst Bank acquired a new position in shares of Progress Software during the 4th quarter worth approximately $601,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Progress Software by 61.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,736 shares of the software maker’s stock worth $375,000 after purchasing an additional 3,325 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in shares of Progress Software by 19.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 12,768 shares of the software maker’s stock worth $522,000 after purchasing an additional 2,110 shares in the last quarter.

Progress Software Stock Up 0.3%

NASDAQ PRGS traded up $0.10 during trading on Tuesday, hitting $33.71. The stock had a trading volume of 83,743 shares, compared to its average volume of 1,020,679. Progress Software has a 12 month low of $33.53 and a 12 month high of $65.50. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The company’s 50-day moving average price is $39.99 and its two-hundred day moving average price is $42.15. The company has a market capitalization of $1.42 billion, a PE ratio of 20.34, a P/E/G ratio of 1.51 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the business earned $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, sell-side analysts forecast that Progress Software will post 4.01 EPS for the current year.

Wall Street Analyst Weigh In

PRGS has been the subject of several recent analyst reports. Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Jefferies Financial Group decreased their price objective on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. DA Davidson reissued a “buy” rating and set a $70.00 target price on shares of Progress Software in a research note on Wednesday, February 4th. Citigroup raised their target price on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Wedbush cut their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

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.