Progress Software (NASDAQ:PRGS) Reaches New 1-Year Low on Analyst Downgrade

Progress Software Corporation (NASDAQ:PRGS)’s share price reached a new 52-week low during trading on Tuesday after Wedbush lowered their price target on the stock from $65.00 to $45.00. Wedbush currently has an outperform rating on the stock. Progress Software traded as low as $26.25 and last traded at $26.60, with a volume of 478089 shares. The stock had previously closed at $28.27.

PRGS has been the topic of several other reports. Citigroup lifted their price objective on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. 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. DA Davidson decreased their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Oppenheimer lowered their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.67.

Insider Buying and Selling

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sundar Subramanian sold 1,600 shares of Progress Software stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $38.28, for a total value of $61,248.00. Following the transaction, the executive vice president owned 15,542 shares in the company, valued at approximately $594,947.76. This trade represents a 9.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,546 shares of company stock valued at $1,171,546 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Key Stories Impacting Progress Software

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Q1 results beat consensus and management raised EPS guidance — Progress reported revenue of roughly $247.8–$248.0M (up ~4.1% YoY) and GAAP EPS that topped the Street; management also raised its EPS outlook, signaling confidence in margins and free cash flow. Progress Software Reports Fiscal First Quarter 2026
• Positive Sentiment: Shares reacted positively in aftermarket/early trading after the print — multiple outlets note a share bump following the earnings beat and guidance lift, reflecting investor enthusiasm for the quarter’s top-line stability and margin improvement. Progress Software beats Q1, guidance estimates, shares jump 5%
• Positive Sentiment: New product launch targets AI-driven demand — Progress released Sitefinity Generative CMS to deliver AI-powered search, personalization and conversational experiences with built‑in governance, positioning the company to capture enterprise AI DX (digital experience) spend. This is strategically aligned with market appetite for secure, governable AI tools. Sitefinity Generative CMS press release
• Neutral Sentiment: Earnings call and highlights provide color on product mix and cost control — Transcripts and highlights show management emphasizing enterprise renewals, margin expansion and cash generation but offer limited new guidance details beyond the raised EPS target. Useful for modeling revenue cadence but no dramatic guidance change. Q1 earnings highlights
• Neutral Sentiment: Full call transcript is available for deeper read — analysts and investors can review Q&A on churn, renewal timing and product roadmap to refine estimates. Earnings call transcript
• Negative Sentiment: Insider selling and mixed analyst expectations — Recent filings show insider sales and some analysts/quant services note institutional trimming and varied price targets; that could cap near-term upside if volumes continue. QuiverQuant summary (insider/holding data)
• Negative Sentiment: Balance sheet and valuation risks — Progress carries elevated leverage (debt/equity ~2.18) and liquidity ratios below 1.0, which investors may view as a risk if growth stalls or in a macro downturn; this can limit multiple expansion despite AI tailwinds. No external link

Institutional Investors Weigh In On Progress Software

A number of institutional investors and hedge funds have recently bought and sold shares of PRGS. Hantz Financial Services Inc. boosted its position in shares of Progress Software by 194.1% during the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Progress Software in the 2nd quarter worth approximately $41,000. Kemnay Advisory Services Inc. bought a new stake in shares of Progress Software in the 4th quarter worth approximately $42,000. Advisors Asset Management Inc. lifted its stake in Progress Software by 135.1% during the first 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. Finally, TD Private Client Wealth LLC boosted its holdings in Progress Software by 1,042.5% during the fourth quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after buying an additional 1,178 shares in the last quarter.

Progress Software Stock Down 7.7%

The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $1.10 billion, a P/E ratio of 15.91, a PEG ratio of 1.22 and a beta of 0.57. The stock’s fifty day moving average is $37.67 and its two-hundred day moving average is $41.17.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.03. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $246.40 million. During the same quarter in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, research analysts predict that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

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.