Thrivent Financial for Lutherans Sells 1,510,892 Shares of Progress Software Corporation $PRGS

Thrivent Financial for Lutherans cut its holdings in Progress Software Corporation (NASDAQ:PRGS) by 98.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,099 shares of the software maker’s stock after selling 1,510,892 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Progress Software worth $1,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. DLD Asset Management LP boosted its position in shares of Progress Software by 31.5% in the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after acquiring an additional 10,300,000 shares during the period. Boston Trust Walden Corp lifted its stake in Progress Software by 8.6% in the 3rd quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after purchasing an additional 153,957 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Progress Software by 26.1% in 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 purchasing an additional 243,950 shares during the period. Geode Capital Management LLC grew its position in shares of Progress Software by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,067,462 shares of the software maker’s stock valued at $68,155,000 after purchasing an additional 5,187 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Progress Software by 3.0% during the 3rd quarter. Swedbank AB now owns 744,226 shares of the software maker’s stock valued at $32,694,000 after purchasing an additional 21,500 shares in the last quarter.

Progress Software Stock Performance

Shares of NASDAQ PRGS opened at $36.53 on Friday. The stock’s 50-day moving average is $42.13 and its 200 day moving average is $43.29. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.57 and a beta of 0.59. Progress Software Corporation has a 1-year low of $35.26 and a 1-year high of $65.50. 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 announced its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. 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. On average, sell-side analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PRGS has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on 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 reaffirmed a “buy” rating and issued a $70.00 price target on shares of Progress Software in a report on Wednesday, February 4th. Citigroup boosted their price objective on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Wedbush decreased 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 report on Thursday, January 22nd. Finally, Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 1,352 shares of the business’s 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 sale, the executive vice president owned 29,066 shares in the company, valued at approximately $1,231,526.42. The trade was a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of Progress Software 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 in the company, valued at approximately $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.40% of the stock is owned by insiders.

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.