FY2025 EPS Forecast for Progress Software Lifted by Analyst

Progress Software Co. (NASDAQ:PRGS) – Equities researchers at DA Davidson boosted their FY2025 earnings per share estimates for Progress Software in a research note issued to investors on Tuesday, April 1st. DA Davidson analyst L. Schreiner now anticipates that the software maker will post earnings per share of $4.17 for the year, up from their previous estimate of $4.03. DA Davidson currently has a “Buy” rating and a $75.00 target price on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.01 per share.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, beating 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 business had revenue of $238.02 million during the quarter, compared to analyst estimates of $235.64 million. During the same quarter in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year.

Several other research analysts have also commented on PRGS. Jefferies Financial Group boosted their price target on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Wedbush reiterated an “outperform” rating and issued a $75.00 target price on shares of Progress Software in a report on Tuesday. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Citigroup increased their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.17.

Progress Software Stock Performance

Shares of NASDAQ:PRGS opened at $56.17 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The firm has a 50 day moving average of $55.89 and a 200 day moving average of $62.02. Progress Software has a 52 week low of $48.00 and a 52 week high of $70.56.

Institutional Trading of Progress Software

A number of hedge funds and other institutional investors have recently made changes to their positions in PRGS. Pacer Advisors Inc. boosted its holdings in Progress Software by 45,918.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock valued at $74,474,000 after purchasing an additional 1,140,626 shares during the last quarter. Principal Financial Group Inc. lifted 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Progress Software by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,945 shares of the software maker’s stock worth $32,267,000 after buying an additional 17,448 shares during the last quarter. Vanguard Group Inc. grew its holdings in Progress Software by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker’s stock worth $381,487,000 after acquiring an additional 45,246 shares during the period. Finally, Cerity Partners LLC purchased a new position in Progress Software during the third quarter valued at approximately $575,000.

Insider Buying and Selling

In related news, insider Ian Pitt sold 1,482 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the transaction, the insider now owns 7,613 shares in the company, valued at approximately $430,895.80. This represents a 16.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock worth $984,621 in the last three months. Corporate insiders own 3.40% of the company’s stock.

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.