Progress Software Corporation (NASDAQ:PRGS) Stock Has Average Target Price of $51.57 According to Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $51.57.

PRGS has been the subject of several recent research reports. Jefferies Financial Group raised Progress Software to a “hold” rating in a report on Friday, September 25th. DA Davidson restated a “buy” rating and issued a $55.00 target price on shares of Progress Software in a report on Friday, October 2nd. Zacks Research raised Progress Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Yorkville Ives started coverage on Progress Software in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $48.00 target price for the company. Finally, Weiss Ratings upgraded Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th.

Progress Software Price Performance

Shares of Progress Software stock opened at $44.93 on Friday. The business has a 50 day simple moving average of $41.78 and a two-hundred day simple moving average of $36.82. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $1.84 billion, a P/E ratio of 20.71, a PEG ratio of 1.86 and a beta of 0.89. Progress Software has a 12 month low of $23.82 and a 12 month high of $47.25.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.17. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. The company had revenue of $246.01 million during the quarter, compared to the consensus estimate of $247.33 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Progress Software’s quarterly revenue was down 1.5% on a year-over-year basis. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. As a group, analysts predict that Progress Software will post 4.78 EPS for the current fiscal year.

Insider Transactions at Progress Software

In related news, insider Yufan Stephanie Wang sold 1,245 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $37.00, for a total transaction of $46,065.00. Following the completion of the sale, the insider directly owned 3,487 shares in the company, valued at approximately $129,019. This trade represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Anthony Folger sold 3,067 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $40.36, for a total transaction of $123,784.12. Following the sale, the chief financial officer owned 49,984 shares of the company’s stock, valued at approximately $2,017,354.24. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Progress Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in Progress Software during the first quarter worth $26,000. Public Employees Retirement System of Ohio purchased a new stake in Progress Software in the second quarter valued at $28,000. Parallel Advisors LLC lifted its stake in shares of Progress Software by 142.0% in the 1st 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. Rockefeller Capital Management L.P. lifted its stake in shares of Progress Software by 192.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after purchasing an additional 877 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Progress Software in the 2nd quarter valued at $61,000.

About Progress Software

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, integrate, secure and manage business applications and digital services. Its portfolio supports application development, data connectivity, application integration, file transfer, network monitoring and digital experience management across cloud, on-premises and hybrid environments.

The company’s products include OpenEdge for developing and operating business applications; Telerik and Kendo UI development tools; DataDirect data connectivity technologies; Sitefinity digital experience software; WhatsUp Gold network monitoring; MOVEit managed file transfer; and Chef automation and infrastructure-management tools.