Progress Software (NASDAQ:PRGS) Sets New 12-Month Low – What’s Next?

Progress Software Corporation (NASDAQ:PRGS)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $34.81 and last traded at $35.05, with a volume of 831836 shares traded. The stock had previously closed at $36.53.

Analyst Ratings Changes

PRGS has been the topic of a number of research analyst reports. Wedbush reduced their price objective 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. Jefferies Financial Group reduced their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of Progress Software in a research note on Wednesday, February 4th. Citigroup upped their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.60.

Progress Software Stock Down 4.1%

The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.60 and a beta of 0.59. The stock has a 50-day moving average of $41.80 and a 200-day moving average of $43.04. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last issued its 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. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The firm had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. During the same period last year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter 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, sell-side analysts forecast that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Activity

In related news, EVP Sundar Subramanian sold 1,352 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,231,526.42. This represents a 4.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the sale, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. This represents a 10.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Progress Software

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. lifted its stake in Progress Software by 145.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock valued at $20,410,000 after purchasing an additional 275,205 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Progress Software by 61.2% in the second quarter. Prudential Financial Inc. now owns 93,916 shares of the software maker’s stock valued at $5,996,000 after buying an additional 35,660 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Progress Software by 26.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after acquiring an additional 243,950 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Progress Software during the 2nd quarter worth $411,000. Finally, Intech Investment Management LLC raised its position in shares of Progress Software by 59.0% during the second quarter. Intech Investment Management LLC now owns 44,853 shares of the software maker’s stock worth $2,863,000 after purchasing an additional 16,651 shares during the period.

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.