Equities Analysts Offer Predictions for Progress Software Co.’s FY2025 Earnings (NASDAQ:PRGS)

Progress Software Co. (NASDAQ:PRGS) – Equities researchers at DA Davidson raised their FY2025 earnings estimates for shares of Progress Software in a research report issued on Wednesday, September 25th. DA Davidson analyst L. Schreiner now expects that the software maker will post earnings per share of $5.15 for the year, up from their previous estimate of $4.19. 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 $3.91 per share.

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

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

Progress Software Trading Up 0.7 %

PRGS opened at $66.30 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. Progress Software has a 52 week low of $48.00 and a 52 week high of $66.52. The stock has a market cap of $2.84 billion, a PE ratio of 40.43, a PEG ratio of 7.32 and a beta of 0.91. The business has a 50 day moving average of $57.67 and a 200-day moving average of $53.79.

Insiders Place Their Bets

In related news, insider Kathryn Kulikoski sold 2,918 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.09, for a total value of $157,834.62. Following the completion of the transaction, the insider now directly owns 4,142 shares in the company, valued at approximately $224,040.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Progress Software news, insider Kathryn Kulikoski sold 2,918 shares of Progress Software stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.09, for a total value of $157,834.62. Following the completion of the sale, the insider now owns 4,142 shares of the company’s stock, valued at approximately $224,040.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ian Pitt sold 584 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $55.00, for a total value of $32,120.00. Following the transaction, the insider now directly owns 3,167 shares in the company, valued at $174,185. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,763 shares of company stock valued at $765,004. Insiders own 3.40% of the company’s stock.

Institutional Trading of Progress Software

Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new position in shares of Progress Software in the 2nd quarter worth $27,000. Blue Trust Inc. lifted its holdings in Progress Software by 29.2% in the second quarter. Blue Trust Inc. now owns 1,640 shares of the software maker’s stock valued at $87,000 after acquiring an additional 371 shares during the period. EntryPoint Capital LLC boosted its position in 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 grew its stake in shares of Progress Software by 225,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,252 shares of the software maker’s stock valued at $122,000 after purchasing an additional 2,251 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Progress Software during the 2nd quarter valued at about $160,000.

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.