Jupiter Topco LLC Buys New Shares in Progress Software Corporation $PRGS

Jupiter Topco LLC acquired a new position in shares of Progress Software Corporation (NASDAQ:PRGS) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 19,257 shares of the software maker’s stock, valued at approximately $648,000.

Several other hedge funds have also modified their holdings of PRGS. Dimensional Fund Advisors LP lifted its stake in shares of Progress Software by 10.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock valued at $31,659,000 after purchasing an additional 121,314 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Progress Software by 133.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock valued at $31,335,000 after buying an additional 698,611 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Progress Software in the second quarter valued at approximately $40,780,000. Geode Capital Management LLC lifted its position in Progress Software by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after buying an additional 6,095 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new stake in Progress Software during the second quarter worth approximately $34,011,000.

Insider Activity at Progress Software

In other news, EVP Sundar Subramanian sold 10,597 shares of the firm’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 completion of the transaction, the executive vice president owned 18,370 shares in the company, valued at approximately $703,019.90. This trade represents a 36.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

Progress Software Stock Performance

NASDAQ:PRGS opened at $44.05 on Monday. The business has a 50 day simple moving average of $41.10 and a 200 day simple moving average of $34.81. The firm has a market capitalization of $1.81 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.85 and a beta of 0.82. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. Progress Software Corporation has a 12-month low of $23.82 and a 12-month high of $47.37.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $1.40 earnings per share. The business’s revenue 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. Equities research analysts predict that Progress Software Corporation will post 4.77 EPS for the current year.

Wall Street Analyst Weigh In

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

Progress Software 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.