Quantinno Capital Management LP Decreases Position in Progress Software Corporation $PRGS

Quantinno Capital Management LP reduced its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 48.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,379 shares of the software maker’s stock after selling 20,343 shares during the period. Quantinno Capital Management LP’s holdings in Progress Software were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in shares of Progress Software in the first quarter valued at approximately $26,000. Parallel Advisors LLC boosted its stake in shares of Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after acquiring an additional 653 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after purchasing an additional 493 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Progress Software in the 4th quarter valued at $42,000. Finally, Advisors Asset Management Inc. raised its stake in Progress Software by 135.1% in the 1st 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.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of Progress Software 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 of the company’s stock, valued at $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRGS. Oppenheimer lowered their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. 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. DA Davidson boosted their price target on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Stock Performance

NASDAQ PRGS opened at $43.21 on Friday. The stock’s fifty day moving average is $38.00 and its two-hundred day moving average is $34.49. The firm has a market capitalization of $1.77 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $47.37.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. During the same period last year, the company earned $1.40 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. 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, research analysts anticipate that Progress Software Corporation will post 4.77 earnings per share for the current year.

About Progress Software

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.