Q2 EPS Forecast for Progress Software Reduced by Analyst

Progress Software Co. (NASDAQ:PRGS) – Equities research analysts at DA Davidson lowered their Q2 2025 earnings per share estimates for Progress Software in a research note issued to investors on Tuesday, April 15th. DA Davidson analyst L. Schreiner now anticipates that the software maker will earn $0.97 per share for the quarter, down from their prior forecast of $0.99. DA Davidson currently has a “Buy” rating and a $70.00 target price on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.01 per share.

PRGS has been the subject of a number of other research reports. Jefferies Financial Group lifted their price objective on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Guggenheim reiterated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Tuesday, April 1st. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Citigroup upped their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.

Progress Software Stock Down 0.1 %

PRGS stock opened at $56.00 on Wednesday. The company has a 50 day moving average of $55.83 and a two-hundred day moving average of $61.68. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 2.82 and a beta of 0.85.

Progress Software (NASDAQ:PRGS) last released its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.27. The company had revenue of $238.02 million for the quarter, compared to analysts’ expectations of $235.64 million. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS.

Insiders Place Their Bets

In other news, insider Ian Pitt sold 1,482 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the sale, the insider now directly owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the chief financial officer now owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,185 shares of company stock valued at $1,024,193 in the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Trading of Progress Software

A number of hedge funds have recently modified their holdings of PRGS. QRG Capital Management Inc. lifted its position in Progress Software by 1.8% in the first quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker’s stock worth $546,000 after purchasing an additional 187 shares during the period. Assetmark Inc. boosted its position in shares of Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock valued at $215,000 after acquiring an additional 204 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Progress Software by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker’s stock worth $290,000 after purchasing an additional 239 shares in the last quarter. First Trust Advisors LP lifted its stake in Progress Software by 0.3% during the fourth quarter. First Trust Advisors LP now owns 95,908 shares of the software maker’s stock worth $6,248,000 after purchasing an additional 281 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Progress Software by 149.5% in the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock valued at $33,000 after purchasing an additional 296 shares during the period.

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.