Hillsdale Investment Management Inc. Has $3.66 Million Stake in Progress Software Corporation $PRGS

Hillsdale Investment Management Inc. grew its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 14.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 142,550 shares of the software maker’s stock after buying an additional 17,800 shares during the period. Hillsdale Investment Management Inc.’s holdings in Progress Software were worth $3,656,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PRGS. Advisors Asset Management Inc. raised its holdings 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 acquiring an additional 604 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Progress Software by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after acquiring an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Progress Software by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock worth $1,321,000 after purchasing an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Progress Software by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after purchasing an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Progress Software by 206.8% during the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after purchasing an additional 75,044 shares during the period.

Insider Activity

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

PRGS has been the subject of a number of recent research reports. Citigroup cut their target price on Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 16th. Wedbush lowered their price target on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Guggenheim restated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group reduced their price objective on shares of Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Five 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.67.

Progress Software Trading Up 3.9%

Shares of PRGS opened at $38.93 on Thursday. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $51.28. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. The stock has a 50 day simple moving average of $32.15 and a 200-day simple moving average of $34.57. The stock has a market cap of $1.60 billion, a PE ratio of 18.90, a PEG ratio of 1.57 and a beta of 0.82.

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

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.