Rice Hall James & Associates LLC Acquires New Position in Progress Software Corporation $PRGS

Rice Hall James & Associates LLC bought a new position in shares of Progress Software Corporation (NASDAQ:PRGS) during the second quarter, Holdings Channel reports. The fund bought 570,261 shares of the software maker’s stock, valued at approximately $19,149,000.

Several other institutional investors and hedge funds have also bought and sold shares of PRGS. Advisors Asset Management Inc. increased its stake in shares of 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 buying an additional 604 shares during the period. AQR Capital Management LLC boosted its holdings in Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after acquiring an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Progress Software by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after buying an additional 1,454 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after buying an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after buying an additional 75,044 shares during the period.

Insider Activity at Progress Software

In related news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, the executive vice president directly owned 18,370 shares in the company, valued at approximately $703,019.90. This represents a 36.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. DA Davidson boosted their price objective on Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research report on Wednesday, July 1st. Finally, Oppenheimer dropped their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Stock Down 2.0%

Shares of NASDAQ PRGS opened at $42.86 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 12-month low of $23.82 and a 12-month high of $47.37. The firm’s 50-day moving average price is $37.29 and its 200-day moving average price is $34.43. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.84 and a beta of 0.80.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. The company had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.40 earnings per share. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. On average, equities research analysts anticipate that Progress Software Corporation will post 4.77 EPS 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.