Progress Software (NASDAQ:PRGS) Reaches New 1-Year Low – Should You Sell?

Progress Software Corporation (NASDAQ:PRGS)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $40.22 and last traded at $40.5950, with a volume of 204218 shares traded. The stock had previously closed at $42.02.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRGS. Citigroup raised Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Monday, October 13th. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. DA Davidson reissued a “buy” rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, September 30th. Jefferies Financial Group cut their price objective on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, September 30th. Finally, Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.00.

Progress Software Trading Down 5.3%

The company has a market cap of $1.71 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. The company’s 50 day simple moving average is $43.74 and its two-hundred day simple moving average is $50.74. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.44 and a quick ratio of 0.44.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Monday, September 29th. The software maker reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.20. The firm had revenue of $249.80 million during the quarter, compared to analysts’ expectations of $240.11 million. Progress Software had a net margin of 5.16% and a return on equity of 43.68%. The firm’s quarterly revenue was up 39.8% on a year-over-year basis. During the same quarter last year, the company posted $1.26 EPS. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS. Q4 2025 guidance at 1.290-1.350 EPS. As a group, sell-side analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Progress Software

In related news, insider Yufan Stephanie Wang sold 1,428 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $46.26, for a total value of $66,059.28. Following the sale, the insider owned 668 shares in the company, valued at approximately $30,901.68. The trade was a 68.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 5,474 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $46.47, for a total value of $254,376.78. Following the transaction, the chief financial officer owned 42,559 shares of the company’s stock, valued at $1,977,716.73. This trade represents a 11.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,311 shares of company stock worth $339,332 in the last quarter. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Progress Software

Several large investors have recently added to or reduced their stakes in the business. DLD Asset Management LP boosted its position in Progress Software by 31.5% in the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after buying an additional 10,300,000 shares during the period. Boston Trust Walden Corp raised its stake in shares of Progress Software by 8.6% in the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock valued at $85,693,000 after acquiring an additional 153,957 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Progress Software by 26.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after acquiring an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Progress Software by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock valued at $50,044,000 after purchasing an additional 20,669 shares during the period. Finally, Geode Capital Management LLC grew its stake in Progress Software by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,067,462 shares of the software maker’s stock worth $68,155,000 after purchasing an additional 5,187 shares in the last quarter.

About Progress Software

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.