FY2025 EPS Forecast for Progress Software Lowered by Analyst

Progress Software Co. (NASDAQ:PRGS) – Research analysts at DA Davidson decreased their FY2025 earnings per share estimates for shares of Progress Software in a report issued on Wednesday, January 22nd. DA Davidson analyst L. Schreiner now forecasts that the software maker will post earnings per share of $4.18 for the year, down from their previous forecast of $4.68. 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 $4.59 per share.

PRGS has been the subject of a number of other reports. StockNews.com downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group raised their target price 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 Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Guggenheim reiterated a “buy” rating and set a $83.00 target price on shares of Progress Software in a research report on Friday, January 17th. Finally, Oppenheimer boosted their price target on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and a consensus target price of $72.43.

Progress Software Price Performance

PRGS opened at $54.12 on Friday. The firm has a market cap of $2.35 billion, a P/E ratio of 34.69, a PEG ratio of 6.24 and a beta of 0.93. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.23 and a current ratio of 0.81. Progress Software has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The firm has a 50-day moving average of $65.96 and a 200 day moving average of $62.34.

Institutional Investors Weigh In On Progress Software

A number of institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Progress Software by 62.1% during the third quarter. Victory Capital Management Inc. now owns 111,640 shares of the software maker’s stock worth $7,521,000 after purchasing an additional 42,773 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in Progress Software by 74.2% in the 3rd 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 in the last quarter. Seizert Capital Partners LLC increased its holdings in shares of Progress Software by 3.3% in the 3rd 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. Leuthold Group LLC raised its position in shares of Progress Software by 958.1% during the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock valued at $27,605,000 after buying an additional 371,026 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Progress Software during the 2nd quarter worth $1,378,000.

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.