Weekly Research Analysts’ Ratings Updates for Progress Software (PRGS)

A number of firms have modified their ratings and price targets on shares of Progress Software (NASDAQ: PRGS) recently:

• 1/23/2025 – Progress Software was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 1/21/2025 – Progress Software had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $75.00 price target on the stock.
• 1/17/2025 – Progress Software had its price target raised by analysts at Citigroup Inc. from $65.00 to $68.00. They now have a “neutral” rating on the stock.
• 1/17/2025 – Progress Software had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $83.00 price target on the stock.
• 1/6/2025 – Progress Software had its price target raised by analysts at Jefferies Financial Group Inc. from $65.00 to $70.00. They now have a “hold” rating on the stock.

Progress Software Price Performance

Shares of PRGS stock traded up $1.07 during trading hours on Tuesday, reaching $55.57. The company had a trading volume of 498,121 shares, compared to its average volume of 790,944. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.23 and a current ratio of 0.81. The stock has a fifty day moving average of $65.46 and a 200-day moving average of $62.45. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 6.24 and a beta of 0.93. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of Progress Software by 45,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock worth $74,474,000 after purchasing an additional 1,140,626 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Progress Software by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after purchasing an additional 43,936 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Progress Software by 11.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock worth $64,985,000 after buying an additional 99,479 shares during the last quarter. Seizert Capital Partners LLC grew its holdings in shares of Progress Software by 3.3% during the third quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after buying an additional 20,355 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Progress Software by 74.2% during the third quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after buying an additional 251,125 shares during the last quarter.

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.