Progress Software Corporation (PRGS) Stock Rises on Q1 2026 Earnings

Progress Software Corporation (PRGS) reported first-quarter 2026 revenue of $247.8 million, up 4.1% year-over-year.

Gross profit was $203.9 million, up 6.3% year-over-year.

Operating profit rose to $46.5 million, a 43.3% increase year-over-year.

Net income attributable to common shareholders came in at $22.8 million, up 108.4% year-over-year.

Diluted earnings per share were $0.54, up 125.1% year-over-year.

Cost of sales decreased to $43.9 million, down 5.1% year-over-year.

Cash from operating activities totaled $98.6 million, up 43.1% year-over-year.

Purchases of property, plant and equipment amounted to $2.7 million, increasing 109.7% year-over-year.

Cash and cash equivalents stood at $113.2 million, down 8.9% year-over-year.

Total liabilities were about $1.9 billion, down 6.6% year-over-year.

Analyst expectations called for revenue of $251.3 million and EPS of $1.60; reported revenue and EPS were below those estimates.

Shares were up 1.46% since market close.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Progress Software Corporation Insider Trading Activity

Progress Software Corporation insiders have traded $PRGS stock on the open market 10 times in the past 6 months. Of those trades, 0 have been purchases and 10 have been sales.

Here’s a breakdown of recent trading of $PRGS stock by insiders over the last 6 months:

SUNDAR SUBRAMANIAN (EVP/GM Infrastructure Mgmt) has made 0 purchases and 4 sales selling 24,546 shares for an estimated $931,543.
ANTHONY FOLGER (Chief Financial Officer) has made 0 purchases and 4 sales selling 11,474 shares for an estimated $494,368.
YUFAN STEPHANIE WANG (Chief Legal Officer) sold 1,428 shares for an estimated $66,059
IAN PITT (Chief Information Officer) sold 409 shares for an estimated $18,895

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Progress Software Corporation Hedge Fund Activity

We have seen 146 institutional investors add shares of Progress Software Corporation stock to their portfolio, and 233 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MACQUARIE GROUP LTD removed 862,126 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $37,036,932
INVESCO LTD. removed 654,599 shares (-75.4%) from their portfolio in Q4 2025, for an estimated $28,121,573
LSV ASSET MANAGEMENT added 619,800 shares (+171.2%) to their portfolio in Q4 2025, for an estimated $26,626,608
SEIZERT CAPITAL PARTNERS, LLC removed 619,325 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $27,206,947
PRINCIPAL FINANCIAL GROUP INC removed 532,464 shares (-63.1%) from their portfolio in Q4 2025, for an estimated $22,874,653
MILLENNIUM MANAGEMENT LLC removed 369,598 shares (-88.4%) from their portfolio in Q4 2025, for an estimated $15,877,930
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 301,176 shares (-74.6%) from their portfolio in Q4 2025, for an estimated $12,938,520

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Progress Software Corporation Government Contracts

We have seen $23,967 of award payments to $PRGS over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

FY25 SITEFINITY RENEWAL: $18,635
PROGRESS DEVCRAFT COMPLETE DEVELOPER LICENSE: $4,032

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Progress Software Corporation Analyst Ratings

Wall Street analysts have issued reports on $PRGS in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citigroup issued a "Buy" rating on 10/13/2025

To track analyst ratings and price targets for Progress Software Corporation, check out Quiver Quantitative's $PRGS forecast page.

Progress Software Corporation Price Targets

Multiple analysts have issued price targets for $PRGS recently. We have seen 4 analysts offer price targets for $PRGS in the last 6 months, with a median target of $55.0.

Here are some recent targets:

Lucky Schreiner from DA Davidson set a target price of $50.0 on 03/25/2026
Dan Ives from Wedbush set a target price of $65.0 on 01/22/2026
Fatima Boolani from Citigroup set a target price of $60.0 on 01/22/2026
Brent Thill from Jefferies set a target price of $45.0 on 01/05/2026