1,012,832 Shares in Progress Software Corporation $PRGS Bought by Heron Bay Capital Management

Heron Bay Capital Management bought a new stake in Progress Software Corporation (NASDAQ:PRGS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,012,832 shares of the software maker’s stock, valued at approximately $34,011,000. Progress Software comprises approximately 3.1% of Heron Bay Capital Management’s holdings, making the stock its 12th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRGS. ProShare Advisors LLC boosted its position in shares of Progress Software by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker’s stock worth $358,000 after acquiring an additional 258 shares in the last quarter. California State Teachers Retirement System lifted its stake in Progress Software by 0.8% during the second quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock worth $2,531,000 after purchasing an additional 333 shares during the last quarter. Moody National Bank Trust Division lifted its stake in Progress Software by 1.3% during the second quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker’s stock worth $948,000 after purchasing an additional 357 shares during the last quarter. GAMMA Investing LLC lifted its stake in Progress Software by 23.9% during the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock worth $71,000 after purchasing an additional 410 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in Progress Software by 0.9% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker’s stock valued at $2,085,000 after purchasing an additional 450 shares in the last quarter.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the sale, the executive vice president directly owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. This trade represents a 36.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by corporate insiders.

Progress Software Trading Up 2.7%

NASDAQ PRGS opened at $44.36 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $1.82 billion, a PE ratio of 21.53, a P/E/G ratio of 1.81 and a beta of 0.81. Progress Software Corporation has a one year low of $23.82 and a one year high of $47.37. The firm’s fifty day moving average is $38.26 and its two-hundred day moving average is $34.56.

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

Analyst Ratings Changes

Several equities analysts have commented on PRGS shares. DA Davidson increased their price target on shares of Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Oppenheimer reduced their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and a consensus 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.