FY2025 EPS Forecast for Progress Software Reduced by Analyst

Progress Software Co. (NASDAQ:PRGS) – Stock analysts at DA Davidson dropped their FY2025 earnings estimates for shares of Progress Software in a research note issued on Wednesday, January 15th. DA Davidson analyst L. Schreiner now anticipates that the software maker will earn $4.68 per share for the year, down from their prior forecast of $5.15. DA Davidson 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 $3.96 per share.

A number of other equities analysts have also recently issued reports on PRGS. Citigroup boosted their price objective on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Friday. Jefferies Financial Group raised 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. 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 report on Tuesday, October 22nd. Finally, StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.71.

Progress Software Trading Down 1.2 %

PRGS opened at $62.94 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s 50 day moving average price is $66.65 and its 200-day moving average price is $62.21. Progress Software has a one year low of $48.00 and a one year high of $70.56. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 6.64 and a beta of 0.93.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Progress Software by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,409,225 shares of the software maker’s stock valued at $76,465,000 after purchasing an additional 34,318 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Progress Software by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock valued at $70,418,000 after buying an additional 43,936 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Progress Software by 11.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock valued at $64,985,000 after buying an additional 99,479 shares in the last quarter. Seizert Capital Partners LLC grew its position in shares of Progress Software by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after buying an additional 20,355 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in shares of Progress Software by 74.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after acquiring an additional 251,125 shares in the last quarter.

Insiders Place Their Bets

In other Progress Software news, insider Ian Pitt sold 1,747 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total transaction of $113,677.29. Following the completion of the sale, the insider now owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is owned by company insiders.

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.