Equities Analysts Set Expectations for PRGS FY2025 Earnings

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

A number of other research analysts also recently issued reports on the stock. Guggenheim restated a “buy” rating and set a $83.00 target price on shares of Progress Software in a research report on Friday. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Oppenheimer boosted their price target on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Citigroup raised their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.71.

Progress Software Stock Performance

Shares of NASDAQ PRGS opened at $62.94 on Friday. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 6.64 and a beta of 0.93. Progress Software has a 12 month low of $48.00 and a 12 month high of $70.56. The company has a 50 day simple moving average of $66.65 and a two-hundred day simple moving average of $62.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.87.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 1,747 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total value of $113,677.29. Following the transaction, the insider now directly owns 3,167 shares of the company’s stock, valued at approximately $206,076.69. This trade represents a 35.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Progress Software

Hedge funds have recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of Progress Software by 10.2% during the third quarter. Assetmark Inc. now owns 3,097 shares of the software maker’s stock worth $209,000 after purchasing an additional 286 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Progress Software by 19.3% during the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock worth $126,000 after buying an additional 301 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Progress Software by 76.7% during the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock worth $75,000 after buying an additional 485 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Progress Software in the second quarter valued at about $27,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Progress Software by 6.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock worth $560,000 after buying an additional 523 shares in 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.