Progress Software (NASDAQ:PRGS) Issues Earnings Results

Progress Software (NASDAQ:PRGS) released its quarterly earnings data on Monday. The software maker reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.12), Zacks reports. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. Progress Software updated its FY 2025 guidance to 5.500-5.560 EPS and its Q4 2025 guidance to 1.290-1.350 EPS.

Progress Software Price Performance

Shares of PRGS traded up $0.59 during midday trading on Monday, hitting $42.61. 3,077,146 shares of the company traded hands, compared to its average volume of 790,271. The stock has a 50-day moving average of $44.96 and a 200-day moving average of $53.69. Progress Software has a one year low of $40.29 and a one year high of $70.56. The firm has a market cap of $1.84 billion, a P/E ratio of 32.53, a PEG ratio of 1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.43 and a quick ratio of 0.43.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PRGS shares. DA Davidson lifted their price target on shares of Progress Software from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Wall Street Zen downgraded shares of Progress Software from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Citigroup reduced their price target on shares of Progress Software from $64.00 to $57.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Progress Software in a research report on Friday, June 27th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Progress Software in a research report on Friday, June 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and a consensus target price of $73.33.

Insider Transactions at Progress Software

In other news, CFO Anthony Folger sold 5,529 shares of the business’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $52.97, for a total transaction of $292,871.13. Following the completion of the transaction, the chief financial officer owned 43,559 shares of the company’s stock, valued at approximately $2,307,320.23. The trade was a 11.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Krall acquired 5,125 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $48.90 per share, with a total value of $250,612.50. Following the acquisition, the director directly owned 100,090 shares of the company’s stock, valued at $4,894,401. This represents a 5.40% increase in their position. The disclosure for this purchase can be found here. 3.60% of the stock is owned by insiders.

Institutional Trading of Progress Software

A number of institutional investors have recently made changes to their positions in PRGS. The Manufacturers Life Insurance Company grew its stake in shares of Progress Software by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 675,946 shares of the software maker’s stock worth $43,152,000 after acquiring an additional 3,261 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after acquiring an additional 241,515 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Progress Software by 5.5% in the second quarter. Public Sector Pension Investment Board now owns 166,241 shares of the software maker’s stock worth $10,613,000 after acquiring an additional 8,601 shares during the last quarter. Amundi grew its stake in shares of Progress Software by 640.7% in the second quarter. Amundi now owns 155,526 shares of the software maker’s stock worth $9,929,000 after acquiring an additional 134,528 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Progress Software in the second quarter worth $9,337,000.

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.