Progress Software (NASDAQ:PRGS) Shares Unloaded Rep. Kevin Hern

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Progress Software Corporation (NASDAQ:PRGS). In a filing disclosed on April 03rd, the Representative disclosed that they had sold between $50,001 and $100,000 in Progress Software stock on March 16th. The trade occurred in the Representative’s “HERN FAMILY REVOCABLE TRUST” account.

Representative Kevin Hern also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Exact Sciences (NASDAQ:EXAS) on 3/24/2026.
• Sold $50,001 – $100,000 in shares of Prologis (NYSE:PLD) on 3/20/2026.
• Sold $15,001 – $50,000 in shares of T. Rowe Price Group (NASDAQ:TROW) on 3/20/2026.
• Sold $15,001 – $50,000 in shares of Medtronic (NYSE:MDT) on 3/20/2026.
• Sold $500,001 – $1,000,000 in shares of Texas Instruments (NASDAQ:TXN) on 3/18/2026.
• Sold $500,001 – $1,000,000 in shares of Smartstop Self Storage REIT (NYSE:SMA) on 3/18/2026.
• Sold $50,001 – $100,000 in shares of BlackRock MuniAssets Fund (NYSE:MUA) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Cognizant Technology Solutions (NASDAQ:CTSH) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Invesco (NYSE:IVZ) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Becton, Dickinson and Company (NYSE:BDX) on 3/17/2026.

Progress Software Price Performance

Shares of PRGS traded down $0.23 during mid-day trading on Tuesday, reaching $28.17. The stock had a trading volume of 353,110 shares, compared to its average volume of 1,109,944. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.10 and a beta of 0.76. Progress Software Corporation has a 12 month low of $23.82 and a 12 month high of $65.50. The business has a fifty day moving average of $36.09 and a 200 day moving average of $40.60. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.49 and a current ratio of 0.47.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.03. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $246.40 million. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share. Equities analysts predict that Progress Software Corporation will post 4.01 EPS for the current year.

Insider Activity

In related news, EVP Sundar Subramanian sold 21,594 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the transaction, the executive vice president owned 15,542 shares of the company’s stock, valued at $585,156.30. This trade represents a 58.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,546 shares of company stock worth $1,171,546 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Progress Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new position in Progress Software in the 2nd quarter worth about $41,000. Hantz Financial Services Inc. increased its stake in Progress Software by 194.1% in the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after buying an additional 493 shares during the period. Kemnay Advisory Services Inc. purchased a new position in Progress Software in the 4th quarter worth about $42,000. Osaic Holdings Inc. increased its stake in Progress Software by 183.0% in the 2nd quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after buying an additional 637 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after buying an additional 604 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 1st. Jefferies Financial Group decreased their price target on shares of Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. DA Davidson decreased their price target on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Oppenheimer decreased their price target on shares of Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Finally, Wedbush decreased their price target on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.50.

About Representative Hern

Kevin Hern (Republican Party) is a member of the U.S. House, representing Oklahoma’s 1st Congressional District. He assumed office on November 13, 2018. His current term ends on January 3, 2027.

Hern (Republican Party) is running for re-election to the U.S. House to represent Oklahoma’s 1st Congressional District. He declared candidacy for the 2026 election.

Kevin Hern went into business as a McDonald’s franchisee in 1999. He acquired 10 McDonald’s franchises by 2012. He served on the McDonald’s National Leadership Team for 13 years, including the tax policy team, the insurance corporation, and as chairman of the economics team. From 2011 to 2015, he was chairman of the finance committee of the Oklahoma Turnpike Authority.

About Progress Software

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.