Progress Software Corporation (PRGS)

In the past six months, Progress Software's stock price has experienced a decline of over 30%. The company reported Q3 2025 EPS of $1.50, beating expectations by 15.38%, with revenue at $250 million, up 40% year-over-year, and raised its full-year 2025 revenue guidance. The launch of new AI capabilities and the integration of acquisitions have bolstered its competitive position. Progress Software debuted in The Forrester Wave: Digital Experience Platforms, Q4 2025 report. Analysts have a "Moderate Buy" consensus rating for PRGS, with an average price target of $67.00. Increased institutional ownership has been noted. The company is focused on deleveraging its balance sheet.

Demand for Progress Software's products and services does not appear to have strong, explicit seasonality. The company has shown robust year-over-year ARR growth, and boasts a net revenue retention (NRR) rate of 100%+. Net retention rates for products like ShareFile are improving as AI demand catalysts encourage higher consumption. Progress's business model is built around recurring revenue, which generally implies a more stable demand pattern. Serving a diverse range of customers helps to mitigate potential seasonality tied to any single industry.

Progress Software Corporation specializes in software products for developing, deploying, and managing AI-powered applications and digital experiences. The company operates in the Technology sector, focusing on systems software and prepackaged software. Its product portfolio includes solutions for enterprise integration, data interoperability, and application development, with a focus on SaaS enablement and delivery. Key products include OpenEdge, Chef, Progress Developer Tools, Kemp LoadMaster & Flowmon, MOVEit, DataDirect, WhatsUp Gold, Sitefinity, Corticon, MarkLogic, Semaphore, ShareFile, and Nuclia. The company's services include application modernization, infrastructure automation, development operations, data management, managed database services, performance enhancements and tuning, and analytics/business intelligence services.

Progress Software Corp. has a global presence, operating in North America, Latin America, Europe, the Middle East and Africa (EMEA), and the Asia Pacific region. The company is headquartered in Burlington, Massachusetts, USA.

Progress Software's brand reputation has been influenced by its strategic acquisitions, product innovation, and financial performance. The acquisition of ShareFile and Nuclia, along with the continuous evolution of its product portfolio, have strengthened its market position. The company's focus on AI-powered applications and digital experiences has been positively received. Its debut in The Forrester Wave: Digital Experience Platforms, Q4 2025 report, indicates a strong reputation in the digital experience platform market. Cybersecurity vulnerabilities are acknowledged as a risk. The company's Q3 2025 revenue beat and raised full-year guidance suggest a strong underlying business performance.

Progress Software Corp. is overwhelmingly controlled by institutional investors, who hold approximately 84.49% to over 100% of the company's shares. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, State Street Corp, Boston Trust Walden Corp, Wellington Management Group Llp, Allspring Global Investments Holdings, LLC, Dimensional Fund Advisors Lp, and Praesidium Investment Management Company LLC. Company insiders hold about 16.01% of the shares, with a net selling trend in the last 12 months. Retail investors hold a comparatively small slice of the company.