Progress Software (NASDAQ:PRGS) Stock Rating Lowered by Wall Street Zen

Progress Software (NASDAQ:PRGS) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

PRGS has been the topic of a number of other reports. Wedbush restated an “outperform” rating and issued a $75.00 target price on shares of Progress Software in a report on Friday, June 27th. Citigroup decreased their target price on Progress Software from $64.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Guggenheim restated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Friday, June 27th. DA Davidson lifted their target price on Progress Software from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group restated a “hold” rating on shares of Progress Software in a report on Friday, June 27th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.33.

Progress Software Stock Down 2.5%

Shares of PRGS stock opened at $41.94 on Friday. Progress Software has a 1 year low of $41.85 and a 1 year high of $70.56. The stock has a market cap of $1.81 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.04 and a beta of 0.68. The business’s fifty day moving average is $46.54 and its 200-day moving average is $54.62. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.10. Progress Software had a return on equity of 43.72% and a net margin of 6.63%.The company had revenue of $237.36 million for the quarter, compared to analysts’ expectations of $237.23 million. During the same period last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. Equities analysts expect that Progress Software will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Progress Software

In other Progress Software news, Director David Krall bought 5,125 shares of the stock in a transaction on Wednesday, July 23rd. The shares were bought at an average price of $48.90 per share, with a total value of $250,612.50. Following the purchase, the director directly owned 100,090 shares in the company, valued at $4,894,401. The trade was a 5.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 5,529 shares of Progress Software stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the transaction, the chief financial officer directly owned 43,559 shares in the company, valued at approximately $2,307,320.23. This trade represents a 11.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Maseco LLP purchased a new position in Progress Software in the second quarter valued at about $28,000. Quaker Wealth Management LLC grew its stake in Progress Software by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock valued at $29,000 after purchasing an additional 900 shares in the last quarter. Orion Capital Management LLC purchased a new position in Progress Software in the fourth quarter valued at about $33,000. Elevation Point Wealth Partners LLC purchased a new position in Progress Software in the second quarter valued at about $41,000. Finally, Advisors Asset Management Inc. grew its stake in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 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.