Progress Software (NASDAQ:PRGS) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Progress Software Corporation (NASDAQ:PRGS) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $35.55 and traded as high as $39.50. Progress Software shares last traded at $38.61, with a volume of 444,191 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PRGS shares. Jefferies Financial Group raised shares of Progress Software to a “hold” rating in a research report on Friday, September 25th. Zacks Research raised shares of Progress Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Oppenheimer cut their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Guggenheim reissued a “buy” rating and set a $83.00 price target on shares of Progress Software in a research report on Wednesday, July 1st. Finally, DA Davidson reiterated a “buy” rating and set a $55.00 target price on shares of Progress Software in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

Progress Software Price Performance

The business’s fifty day moving average price is $41.61 and its 200 day moving average price is $35.64. The stock has a market cap of $1.67 billion, a P/E ratio of 18.82, a PEG ratio of 1.62 and a beta of 0.89. 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 (NASDAQ:PRGS) last released 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 for 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 quarter last year, the business posted $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 forecast that Progress Software Corporation will post 4.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Yufan Stephanie Wang sold 1,245 shares of the stock in a transaction dated 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 sale, the insider owned 3,487 shares of the company’s stock, valued at approximately $129,019. This represents a 26.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Institutional Trading of Progress Software

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. bought a new stake in shares of Progress Software in the 1st quarter valued at $26,000. Public Employees Retirement System of Ohio bought a new position in shares of Progress Software in the 2nd quarter worth about $28,000. Parallel Advisors LLC grew its stake in Progress Software by 142.0% during the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares during the period. Rockefeller Capital Management L.P. grew its stake in Progress Software by 192.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after purchasing an additional 877 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in Progress Software in the second quarter worth approximately $61,000.

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.