Q1 EPS Estimates for Progress Software Reduced by Wedbush

Progress Software Co. (NASDAQ:PRGS) – Wedbush cut their Q1 2025 earnings per share estimates for shares of Progress Software in a report issued on Wednesday, January 22nd. Wedbush analyst D. Ives now forecasts that the software maker will post earnings of $0.79 per share for the quarter, down from their previous forecast of $1.00. The consensus estimate for Progress Software’s current full-year earnings is $4.59 per share. Wedbush also issued estimates for Progress Software’s Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $1.35 EPS, FY2025 earnings at $4.00 EPS and Q2 2026 earnings at $1.07 EPS.

PRGS has been the topic of several other reports. Oppenheimer boosted their price objective on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. DA Davidson restated a “buy” rating and issued a $75.00 price objective on shares of Progress Software in a research report on Tuesday, January 21st. Citigroup boosted their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.43.

Progress Software Trading Up 2.7 %

Shares of PRGS stock opened at $55.96 on Monday. Progress Software has a twelve month low of $48.00 and a twelve month high of $70.56. The company has a current ratio of 0.81, a quick ratio of 1.23 and a debt-to-equity ratio of 3.48. The business’s 50 day moving average is $65.26 and its two-hundred day moving average is $62.46. The company has a market capitalization of $2.43 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 6.24 and a beta of 0.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in Progress Software by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 94,066 shares of the software maker’s stock worth $5,104,000 after acquiring an additional 2,118 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Progress Software during the 2nd quarter worth approximately $27,000. Sei Investments Co. lifted its stake in Progress Software by 374.0% in the 2nd quarter. Sei Investments Co. now owns 39,786 shares of the software maker’s stock valued at $2,159,000 after buying an additional 31,393 shares in the last quarter. AQR Capital Management LLC grew its holdings in Progress Software by 98.8% during the 2nd quarter. AQR Capital Management LLC now owns 38,950 shares of the software maker’s stock valued at $2,113,000 after buying an additional 19,359 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Progress Software during the second quarter worth $1,378,000.

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.