Progress Software (NASDAQ:PRGS) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Progress Software (NASDAQ:PRGS) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research report on Wednesday, July 1st. DA Davidson reiterated a “buy” rating and issued a $55.00 target price on shares of Progress Software in a report on Friday, October 2nd. Jefferies Financial Group raised Progress Software to a “hold” rating in a research note on Friday, September 25th. Finally, Oppenheimer lowered their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. One investment 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 price target of $52.17.

Progress Software Stock Down 0.1%

Progress Software stock opened at $37.20 on Monday. The business’s 50-day simple moving average is $41.98 and its two-hundred day simple moving average is $35.18. The company has a market cap of $1.52 billion, a PE ratio of 17.14, a PEG ratio of 1.56 and a beta of 0.89. Progress Software has a fifty-two week low of $23.82 and a fifty-two week high of $47.31. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.80 and a current ratio of 0.80.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share for the quarter, topping 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%.The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm 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. Equities analysts anticipate that Progress Software will post 4.78 EPS for the current year.

Institutional Trading of Progress Software

A number of large investors have recently made changes to their positions in PRGS. Geneos Wealth Management Inc. acquired a new position in Progress Software in the 1st quarter valued at about $26,000. Public Employees Retirement System of Ohio acquired a new position in Progress Software during the 2nd quarter worth approximately $28,000. Parallel Advisors LLC grew its holdings 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 acquiring an additional 653 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Progress Software by 192.7% in the 4th 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 in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Progress Software during the 2nd 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.