Progress Software (NASDAQ:PRGS) Stock Sale Revealed by Rep. Kevin Hern

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Progress Software Corporation (NASDAQ:PRGS). In a filing disclosed on September 25th, the Representative disclosed that they had sold between $15,001 and $50,000 in Progress Software stock on August 31st. The trade occurred in the Representative’s “HERN FAMILY FOUNDATION” account.

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

• Sold $15,001 – $50,000 in shares of CenterPoint Energy (NYSE:CNP) on 9/15/2026.
• Sold $1,001 – $15,000 in shares of TJX Companies (NYSE:TJX) on 9/15/2026.
• Sold $15,001 – $50,000 in shares of STERIS (NYSE:STE) on 9/15/2026.
• Sold $1,001 – $15,000 in shares of Seagate Technology (NASDAQ:STX) on 9/15/2026.
• Sold $15,001 – $50,000 in shares of NextEra Energy (NYSE:NEE) on 9/14/2026.
• Sold $1,001 – $15,000 in shares of Marsh & McLennan Companies (NYSE:MRSH) on 9/14/2026.
• Sold $15,001 – $50,000 in shares of IQVIA (NYSE:IQV) on 9/14/2026.
• Sold $15,001 – $50,000 in shares of Home Depot (NYSE:HD) on 9/14/2026.
• Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 9/14/2026.
• Sold $15,001 – $50,000 in shares of Emerson Electric (NYSE:EMR) on 9/14/2026.

Progress Software Price Performance

NASDAQ:PRGS traded down $0.47 during mid-day trading on Tuesday, hitting $38.94. 147,116 shares of the company’s stock traded hands, compared to its average volume of 841,271. The firm’s 50 day simple moving average is $42.06 and its 200 day simple moving average is $35.03. The company has a market cap of $1.60 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.37.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The business had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. During the same quarter in the previous year, the business posted $1.40 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Sell-side analysts expect that Progress Software Corporation will post 4.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRGS shares. DA Davidson boosted their target price on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Oppenheimer cut their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Guggenheim restated a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group raised Progress Software to a “hold” rating in a research report on Friday. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new stake in Progress Software during the second quarter valued at about $40,780,000. Heron Bay Capital Management purchased a new position in shares of Progress Software in the second quarter worth approximately $34,011,000. Dimensional Fund Advisors LP raised its holdings in shares of Progress Software by 10.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock valued at $31,659,000 after acquiring an additional 121,314 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Progress Software by 133.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock valued at $31,335,000 after acquiring an additional 698,611 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Progress Software in the 2nd quarter valued at approximately $19,149,000.

Insiders Place Their Bets

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the sale, the executive vice president directly owned 18,370 shares of the company’s stock, valued at $703,019.90. The trade was a 36.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

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 Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company’s products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.