DA Davidson Raises Earnings Estimates for Progress Software

Progress Software Co. ( NASDAQ:PRGS – Free Report ) – Research analysts at DA Davidson raised their FY2025 EPS estimates for shares of Progress Software in a 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 prior forecast of $4.03.



DA Davidson currently has a “Buy” rating and a $75.00 price objective on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.

01 per share. A number of other research firms have also recently issued reports on PRGS. Wedbush reiterated an “outperform” rating and issued a $75.

00 target price on shares of Progress Software in a research note on Tuesday. Jefferies Financial Group lifted their price objective on shares of Progress Software from $65.00 to $70.

00 and gave the company a “hold” rating in a research note on Monday, January 6th. StockNews.com downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd.

Citigroup raised their target price on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th.

Finally, Guggenheim reiterated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock.

According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.17. Progress Software Trading Down 1.

7 % Shares of NASDAQ PRGS opened at $57.99 on Thursday. The business has a 50 day simple moving average of $55.

83 and a 200 day simple moving average of $62.03. Progress Software has a 52 week low of $48.

00 and a 52 week high of $70.56. The stock has a market cap of $2.

50 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 2.82 and a beta of 0.

88. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.

81 and a current ratio of 0.81. Progress Software ( NASDAQ:PRGS – Get Free Report ) last issued its earnings results on Monday, March 31st.

The software maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.

27. Progress Software had a return on equity of 41.56% and a net margin of 9.

08%. The firm had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.

64 million. During the same quarter in the previous year, the company posted $1.25 earnings per share.

The business’s quarterly revenue was up 28.9% compared to the same quarter last year. Institutional Inflows and Outflows Several institutional investors and hedge funds have recently made changes to their positions in PRGS.

Bessemer Group Inc. lifted its stake in shares of Progress Software by 149.5% in the fourth quarter.

Bessemer Group Inc. now owns 494 shares of the software maker’s stock valued at $33,000 after buying an additional 296 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Progress Software during the 4th quarter worth approximately $33,000.

Smartleaf Asset Management LLC grew its holdings in shares of Progress Software by 893.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock worth $50,000 after purchasing an additional 688 shares in the last quarter.

GAMMA Investing LLC increased its position in shares of Progress Software by 55.4% during the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after purchasing an additional 619 shares during the period.

Finally, TD Private Client Wealth LLC raised its stake in shares of Progress Software by 19.3% in the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after purchasing an additional 301 shares in the last quarter.

Insider Activity In related news, CAO Domenic Lococo sold 1,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.

00. Following the transaction, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at approximately $242,000.72.

The trade was a 18.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink .

Also, CFO Anthony Folger sold 15,000 shares of the company’s stock in a transaction 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 transaction, 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 .

Over the last ninety days, insiders have sold 17,482 shares of company stock valued at $984,621. 3.40% of the stock is owned by insiders.

About Progress Software ( Get Free Report ) 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.

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