Wedbush Equities Analysts Raise Earnings Estimates for PRGS

Progress Software Co. (NASDAQ:PRGS) – Equities researchers at Wedbush boosted their Q3 2026 EPS estimates for shares of Progress Software in a report issued on Tuesday, April 1st. Wedbush analyst D. Ives now expects that the software maker will earn $1.22 per share for the quarter, up from their prior estimate of $1.16. Wedbush has a “Outperform” 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. Wedbush also issued estimates for Progress Software’s Q4 2026 earnings at $1.20 EPS.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million during the quarter, compared to analysts’ expectations of $235.64 million. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS.

Several other equities research analysts have also commented on PRGS. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Tuesday. Jefferies Financial Group upped their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Citigroup boosted their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, DA Davidson reiterated a “buy” rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.17.

Progress Software Stock Up 2.1 %

PRGS stock opened at $58.98 on Thursday. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day simple moving average is $55.75 and its 200-day simple moving average is $62.06. Progress Software has a 12 month low of $48.00 and a 12 month high of $70.56. The company has a market capitalization of $2.54 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. 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 in the last quarter. Principal Financial Group Inc. increased its position 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Progress Software by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,945 shares of the software maker’s stock valued at $32,267,000 after purchasing an additional 17,448 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Progress Software in the 3rd quarter valued at about $575,000. Finally, GAMMA Investing LLC grew its stake in Progress Software by 55.4% during the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after buying an additional 619 shares during the last quarter.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the sale, the insider now directly owns 7,613 shares in the company, valued at approximately $430,895.80. The trade was a 16.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Domenic Lococo sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the transaction, the chief accounting officer now owns 4,303 shares in the company, valued at approximately $242,000.72. This represents a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,482 shares of company stock valued at $984,621. 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.