FY2025 EPS Estimate for Progress Software Reduced by Analyst

Progress Software Co. (NASDAQ:PRGS) – Research analysts at DA Davidson dropped their FY2025 earnings per share (EPS) estimates for Progress Software in a research report issued on Tuesday, April 15th. DA Davidson analyst L. Schreiner now forecasts that the software maker will earn $4.08 per share for the year, down from their previous forecast of $4.16. 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. DA Davidson also issued estimates for Progress Software’s FY2026 earnings at $4.43 EPS.

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

Several other research firms have also recently weighed in on PRGS. Jefferies Financial Group raised their price target on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup raised their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Wedbush restated an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Finally, StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.33.

Progress Software Trading Down 0.1 %

Shares of PRGS stock opened at $56.00 on Thursday. Progress Software has a 52-week low of $48.00 and a 52-week high of $70.56. The business’s fifty day moving average is $55.83 and its 200 day moving average is $61.68. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $2.41 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85.

Insider Transactions at Progress Software

In related news, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian Pitt sold 703 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $56.29, for a total value of $39,571.87. Following the completion of the sale, the insider now owns 8,317 shares of the company’s stock, valued at $468,163.93. The trade was a 7.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,185 shares of company stock worth $1,024,193. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRGS. Bessemer Group Inc. grew its position in Progress Software by 149.5% in the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock worth $33,000 after purchasing an additional 296 shares during the period. Orion Capital Management LLC purchased a new position in shares of Progress Software in the 4th quarter worth $33,000. Smartleaf Asset Management LLC boosted its stake in shares of Progress Software by 893.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock worth $50,000 after buying an additional 688 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Progress Software by 55.4% in the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after acquiring an additional 619 shares during the period. Finally, Blue Trust Inc. increased its position in Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after acquiring an additional 394 shares during the last quarter.

Progress Software Company Profile

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.