Susquehanna Fundamental Investments LLC Sells 12,376 Shares of Progress Software Corporation $PRGS

Susquehanna Fundamental Investments LLC cut its position in Progress Software Corporation (NASDAQ:PRGS) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,620 shares of the software maker’s stock after selling 12,376 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Progress Software were worth $3,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in Progress Software in the 1st quarter worth $26,000. Public Employees Retirement System of Ohio purchased a new stake in Progress Software in the 2nd quarter worth $28,000. Parallel Advisors LLC raised 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 valued at $29,000 after acquiring an additional 653 shares during the period. Hantz Financial Services Inc. raised its holdings in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after acquiring an additional 493 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Progress Software in the fourth quarter valued at about $42,000.

Insider Activity

In other news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the sale, the executive vice president directly owned 18,370 shares of the company’s stock, valued at $703,019.90. This represents a 36.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Oppenheimer dropped their price target on 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 increased their price objective on shares of Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, 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. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Progress Software Stock Up 3.4%

PRGS opened at $46.27 on Tuesday. The company has a market capitalization of $1.90 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The firm has a 50-day simple moving average of $40.00 and a two-hundred day simple moving average of $34.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $47.37.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. During the same period in the previous year, the business earned $1.40 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Analysts forecast that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

About Progress Software

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.