Progress Software's 15min chart triggers MACD Golden Cross, RSI Oversold.

As of 09/02/2025 at 14:45, Progress Software's 15-minute chart has triggered a MACD Golden Cross and an RSI Oversold reading. This indicates that the stock price is poised to continue its upward trajectory, as it has experienced a precipitous decline that has brought it below its fundamental support level.

Progress Software's 15-minute chart has recently triggered a MACD Golden Cross and an RSI Oversold reading, signaling a potential upward trajectory for the stock. As of September 2, 2025, at 14:45, these technical indicators suggest that the stock price is poised to continue its upward movement, having declined significantly and fallen below its fundamental support level.

The MACD Golden Cross, a technical indicator that combines the MACD and signal lines, indicates a change in trend from bearish to bullish. This is further supported by the RSI Oversold reading, which suggests that the stock price has fallen significantly and is likely to rebound. These indicators, combined with the recent decline in the stock price, suggest that the stock is likely to experience further price appreciation.

The recent technical indicators align with strong earnings reports and increasing institutional interest in Progress Software. The company's quarterly earnings report for the period ending August 5, 2025, showed robust performance, with earnings per share of $0.30, topping analysts' consensus estimates of $0.10 by $0.20. Revenue for the quarter was $250.72 million, compared to analyst estimates of $228.20 million. Despite a negative net margin of 22.77% and a positive return on equity of 2.25%, the company's quarterly revenue was down 2.7% on a year-over-year basis. Analysts predict that Progress Software will post 1.54 earnings per share for the current fiscal year.

Several institutional investors have increased their stakes in Progress Software. Quantbot Technologies LP, for instance, boosted its holdings by 219.6% during the first quarter, owning 76,838 shares worth $4,852,000 as of its most recent filing. Other hedge funds, such as Cerity Partners LLC, Bank of Montreal Can, and Sterling Capital Management LLC, have also increased their positions in Progress Software, reflecting a growing interest in the stock.

Moreover, Progress Software recently declared a quarterly dividend of $0.33 per share, paid on Monday, June 16, 2025. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. Analysts have issued varying reports on the stock. Wall Street Zen upgraded Progress Software from a "sell" rating to a "hold" rating, and Stifel Nicolaus set a $72.00 target price. Sanford C. Bernstein upgraded Progress Software from a "market perform" rating to an "outperform" rating and set a $97.00 target price. Raymond James Financial dropped their target price from $80.00 to $70.00 and set a "strong-buy" rating on the stock.

In conclusion, Progress Software's recent technical indicators and strong earnings report suggest potential upside momentum. The company's undervalued status, as indicated by its forward P/E ratio, and the increasing interest from institutional investors further support this view. However, investors should conduct thorough due diligence before making investment decisions.

References:
[1] https://www.benzinga.com/markets/equities/25/08/47183929/6-undervalued-semiconductor-and-software-stocks-flashing-strong-value-signals
[2] https://www.marketbeat.com/instant-alerts/filing-quantbot-technologies-lp-increases-stock-position-in-kestrel-group-corporation-2025-08-19/