Progress Software Co. Forecasted to Earn FY2025 Earnings of $5.15 Per Share (NASDAQ:PRGS)

Progress Software Co. (NASDAQ:PRGS) – DA Davidson boosted their FY2025 earnings per share estimates for shares of Progress Software in a note issued to investors on Wednesday, September 25th. DA Davidson analyst L. Schreiner now anticipates that the software maker will post earnings of $5.15 per share for the year, up from their prior estimate of $4.19. 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 $3.91 per share.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Tuesday, September 24th. The software maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.12. The company had revenue of $178.69 million for the quarter, compared to analyst estimates of $176.16 million. Progress Software had a net margin of 11.55% and a return on equity of 38.35%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share.

PRGS has been the subject of several other research reports. StockNews.com upgraded Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Jefferies Financial Group reduced their price objective on shares of Progress Software from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, June 26th. Wedbush reiterated an “outperform” rating and issued a $68.00 target price on shares of Progress Software in a research note on Tuesday, September 10th. Guggenheim raised their price target on shares of Progress Software from $64.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer boosted their price target on shares of Progress Software from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $66.00.

Progress Software Price Performance

Progress Software stock opened at $66.30 on Friday. The firm has a market capitalization of $2.84 billion, a P/E ratio of 40.43, a PEG ratio of 7.32 and a beta of 0.91. Progress Software has a one year low of $48.00 and a one year high of $66.52. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.95. The business has a fifty day moving average price of $57.67 and a 200-day moving average price of $53.79.

Institutional Investors Weigh In On Progress Software

Hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new stake in shares of Progress Software in the 2nd quarter valued at about $27,000. Blue Trust Inc. boosted its stake in shares of Progress Software by 29.2% during the second quarter. Blue Trust Inc. now owns 1,640 shares of the software maker’s stock valued at $87,000 after purchasing an additional 371 shares during the period. EntryPoint Capital LLC grew its holdings in shares of Progress Software by 993.5% in the first quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker’s stock worth $116,000 after purchasing an additional 1,977 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of Progress Software by 225,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,252 shares of the software maker’s stock worth $122,000 after buying an additional 2,251 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Progress Software in the second quarter worth $160,000.

Insider Buying and Selling at Progress Software

In other news, insider Kathryn Kulikoski sold 2,918 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.09, for a total transaction of $157,834.62. Following the sale, the insider now owns 4,142 shares in the company, valued at approximately $224,040.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Ian Pitt sold 584 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $55.00, for a total value of $32,120.00. Following the completion of the sale, the insider now owns 3,167 shares in the company, valued at approximately $174,185. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathryn Kulikoski sold 2,918 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.09, for a total transaction of $157,834.62. Following the transaction, the insider now owns 4,142 shares in the company, valued at $224,040.78. The disclosure for this sale can be found here. Insiders sold a total of 13,763 shares of company stock worth $765,004 over the last three months. 3.40% of the stock is owned by 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.