Insider Selling: Progress Software (NASDAQ:PRGS) Insider Sells $46,065.00 in Stock

Progress Software Corporation (NASDAQ:PRGS) insider Yufan Stephanie Wang sold 1,245 shares of the business’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $37.00, for a total value of $46,065.00. Following the completion of the transaction, the insider owned 3,487 shares of the company’s stock, valued at $129,019. This represents a 26.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Trading Up 2.7%

Shares of NASDAQ:PRGS opened at $39.33 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.80 and a quick ratio of 0.80. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.25. The company has a market cap of $1.61 billion, a P/E ratio of 18.12, a PEG ratio of 1.60 and a beta of 0.89. The stock’s fifty day moving average price is $41.80 and its 200-day moving average price is $35.30.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 EPS for the quarter, topping the consensus estimate of $1.52 by $0.17. The company had revenue of $246.01 million during the quarter, compared to the consensus estimate of $247.33 million. Progress Software had a return on equity of 42.91% and a net margin of 9.24%. Progress Software’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. Sell-side analysts expect that Progress Software Corporation will post 4.78 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Progress Software to a “hold” rating in a report on Friday, September 25th. DA Davidson reissued a “buy” rating and set a $55.00 price target on shares of Progress Software in a report on Friday, October 2nd. Oppenheimer dropped their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Zacks Research raised Progress Software from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Weiss Ratings upgraded Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Progress Software presently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

Institutional Trading of Progress Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Progress Software by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock valued at $31,659,000 after buying an additional 121,314 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Progress Software by 133.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after acquiring an additional 698,611 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Progress Software during the second quarter valued at $40,780,000. Heron Bay Capital Management bought a new stake in Progress Software in the 2nd quarter valued at $34,011,000. Finally, Rice Hall James & Associates LLC purchased a new stake in Progress Software in the 2nd quarter worth $19,149,000.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.