Progress Software (NASDAQ:PRGS) CFO Anthony Folger Sells 3,067 Shares of Company Stock

Progress Software Corporation (NASDAQ:PRGS) CFO Anthony Folger sold 3,067 shares of the firm’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $40.36, for a total transaction of $123,784.12. Following the completion of the transaction, the chief financial officer directly owned 49,984 shares of the company’s stock, valued at approximately $2,017,354.24. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Trading Up 2.6%

Shares of NASDAQ:PRGS opened at $43.35 on Wednesday. The company’s 50-day moving average price is $41.56 and its two-hundred day moving average price is $35.98. 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 one year low of $23.82 and a one year high of $47.25. The stock has a market capitalization of $1.77 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.77 and a beta of 0.89.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.17. The company had revenue of $246.01 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter 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. On average, equities analysts forecast that Progress Software Corporation will post 4.78 EPS for the current fiscal year.

Analyst Ratings Changes

PRGS has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. Oppenheimer cut their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. DA Davidson reissued a “buy” rating and issued a $55.00 price objective on shares of Progress Software in a research report on Friday, October 2nd. Zacks Research upgraded shares of Progress Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, Jefferies Financial Group upgraded shares of Progress Software to a “hold” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Progress Software currently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Institutional Trading of Progress Software

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in Progress Software during the 2nd quarter valued at $28,000. Geneos Wealth Management Inc. bought a new position in Progress Software during the first quarter worth $26,000. Parallel Advisors LLC increased its holdings 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 valued at $29,000 after purchasing an additional 653 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Progress Software by 192.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after purchasing an additional 877 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Progress Software in the second quarter valued at $61,000.

About Progress Software

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, integrate, secure and manage business applications and digital services. Its portfolio supports application development, data connectivity, application integration, file transfer, network monitoring and digital experience management across cloud, on-premises and hybrid environments.

The company’s products include OpenEdge for developing and operating business applications; Telerik and Kendo UI development tools; DataDirect data connectivity technologies; Sitefinity digital experience software; WhatsUp Gold network monitoring; MOVEit managed file transfer; and Chef automation and infrastructure-management tools.