M&T Bank Corp Purchases New Stake in Progress Software Corporation $PRGS
M&T Bank Corp recently acquired a new stake of 84,412 shares in Progress Software (NASDAQ:PRGS), valued at $3.63 million, representing about 0.20% ownership. Despite some analyst target cuts, the company maintains a "Moderate Buy" consensus rating with an average target price of $52.50, and slightly beat its Q1 earnings estimates with EPS of $1.60 and revenue of $248 million. However, insider selling of approximately 29,194 shares indicates mixed sentiment among investors.
MAR 31·Stock Titan▲
Progress Software (Nasdaq: PRGS) posts Q1 2026 beat and raises 2026 EPS outlook
Progress Software (Nasdaq: PRGS) announced a strong Q1 2026 performance with revenue of $247.8 million, up 4% year-over-year, and significant increases in both GAAP and non-GAAP diluted EPS. The company also raised its non-GAAP EPS outlook for fiscal year 2026 to $5.91–$6.03 and reported robust cash flow, enabling debt repayment and share repurchases. These results reflect the durability of its business model and effective capital allocation strategy.
MAR 31·StreetInsider▲
Progress Software Corporation (PRGS) Tops Q1 EPS by 3c, Offers Guidance
Progress Software Corporation (PRGS) reported stronger-than-expected Q1 earnings per share of $1.60, surpassing analyst estimates by $0.03, with revenue also exceeding expectations at $247.8 million. The company provided its FY2026 guidance, projecting EPS of $5.91-$6.03 and revenue of $988-1000 million, both largely in line with or slightly above consensus estimates.
