Equities Analysts Offer Predictions for PRGS Q2 Earnings

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

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, topping the consensus estimate of $1.04 by $0.27. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The company had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. During the same quarter in the previous year, the firm earned $1.25 EPS. Progress Software’s revenue was up 28.9% compared to the same quarter last year.

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

Progress Software Price Performance

NASDAQ:PRGS opened at $57.08 on Wednesday. The firm’s fifty day moving average is $55.89 and its two-hundred day moving average is $61.80. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 2.82 and a beta of 0.85. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software has a one year low of $48.00 and a one year high of $70.56.

Insider Activity at Progress Software

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

Hedge Funds Weigh In On Progress Software

Several hedge funds and other institutional investors have recently modified their holdings of PRGS. Harbor Capital Advisors Inc. raised its holdings in Progress Software by 19.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 10,286 shares of the software maker’s stock valued at $530,000 after acquiring an additional 1,692 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Progress Software by 1.8% in the first quarter. Rhumbline Advisers now owns 121,063 shares of the software maker’s stock valued at $6,236,000 after purchasing an additional 2,193 shares during the last quarter. GAMMA Investing LLC lifted its position in Progress Software by 2,620.9% during the first quarter. GAMMA Investing LLC now owns 47,235 shares of the software maker’s stock worth $2,433,000 after buying an additional 45,499 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Progress Software by 17.7% during the first quarter. Moody National Bank Trust Division now owns 22,240 shares of the software maker’s stock worth $1,146,000 after buying an additional 3,341 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Progress Software in the 4th quarter worth $7,966,000.

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.