Progress Software Corporation $PRGS Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 273.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,773 shares of the software maker’s stock after buying an additional 6,425 shares during the quarter. SG Americas Securities LLC’s holdings in Progress Software were worth $560,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PRGS. Swedbank AB raised its holdings in Progress Software by 65.8% in the first quarter. Swedbank AB now owns 728,748 shares of the software maker’s stock valued at $37,538,000 after acquiring an additional 289,122 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after purchasing an additional 241,515 shares in the last quarter. Nuveen LLC bought a new position in shares of Progress Software during the first quarter worth about $9,973,000. The Manufacturers Life Insurance Company lifted its position in shares of Progress Software by 29.1% during the first quarter. The Manufacturers Life Insurance Company now owns 672,685 shares of the software maker’s stock worth $34,650,000 after purchasing an additional 151,800 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Progress Software by 1,772.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 156,615 shares of the software maker’s stock worth $8,067,000 after purchasing an additional 148,253 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PRGS shares. Wall Street Zen raised Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. DA Davidson restated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, September 30th. Jefferies Financial Group decreased their price objective on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, September 30th. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Citigroup upgraded shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Buying and Selling at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $46.26, for a total transaction of $66,059.28. Following the completion of the sale, the insider directly owned 668 shares of the company’s stock, valued at $30,901.68. This represents a 68.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anthony Folger sold 5,474 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $46.47, for a total transaction of $254,376.78. Following the sale, the chief financial officer directly owned 42,559 shares of the company’s stock, valued at $1,977,716.73. This represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 7,311 shares of company stock valued at $339,332. Corporate insiders own 3.40% of the company’s stock.

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $41.21 on Thursday. The firm’s 50-day simple moving average is $43.41 and its 200 day simple moving average is $49.66. The stock has a market cap of $1.77 billion, a P/E ratio of 37.46, a P/E/G ratio of 1.95 and a beta of 0.67. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.22. Progress Software Corporation has a fifty-two week low of $39.00 and a fifty-two week high of $70.28.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Monday, September 29th. The software maker reported $1.50 EPS for the quarter, topping the consensus estimate of $1.30 by $0.20. Progress Software had a return on equity of 43.68% and a net margin of 5.16%.The firm had revenue of $249.80 million for the quarter, compared to analysts’ expectations of $240.11 million. During the same quarter in the previous year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was up 39.8% compared to the same quarter last year. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS. Q4 2025 guidance at 1.290-1.350 EPS. Equities analysts expect that Progress Software Corporation will post 4.01 EPS for the current year.

About Progress Software

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.