Progress Software Corp Insider Sells 5,529 Shares

Anthony Folger, CFO of Progress Software Corp (PRGS), sold 5,529 shares on July 8, 2025, owning 43,559 shares. Over the past year, Folger has sold a total of 28,326 shares and has not purchased any shares. Progress Software Corp offers solutions for application development, data connectivity, and digital experience management. The company has a market cap of $2.22 billion and a price-earnings ratio of 39.33, higher than the industry median. The GF Value is $72.69, with a price-to-GF-Value ratio of 0.73, indicating the stock is modestly undervalued.

Progress Software Corporation (PRGS) experienced a significant event on July 8, 2025, as its Chief Financial Officer (CFO), Anthony Folger, sold 5,529 shares of the company's stock. This transaction occurred at an average price of $52.97 per share, totaling $292,871.13. Following the sale, Folger directly owned 43,559 shares, valued at $2,307,320.23 [1].

Over the past year, Folger has sold a total of 28,326 shares, with no new purchases reported. This sale represents a 11.26% decrease in his ownership of the stock [1]. The transaction was disclosed in a legal filing with the SEC, which is accessible through the provided link.

Progress Software Corporation offers solutions for application development, data connectivity, and digital experience management. The company has a market cap of $2.22 billion and a price-earnings ratio of 39.33, which is higher than the industry median. The GF Value is $72.69, with a price-to-GF-Value ratio of 0.73, indicating that the stock is modestly undervalued [1].

The company's stock has been subject to recent analyst reviews. DA Davidson boosted its target price on Progress Software from $70.00 to $75.00 and gave the company a "buy" rating. Wall Street Zen downgraded Progress Software from a "strong-buy" rating to a "buy" rating. Wedbush reaffirmed an "outperform" rating and set a $75.00 price objective. Jefferies Financial Group reaffirmed a "hold" rating, while Guggenheim restated a "buy" rating and issued a $83.00 price target [1].

Progress Software has also been involved in notable acquisitions. On June 27, 2025, the company announced the acquisition of Nuclia, an innovator in agentic Retrieval-Augmented Generation (RAG) AI solutions. Nuclia provides a unique agentic RAG-as-a-service product, enabling organizations to automatically leverage their proprietary business information to retrieve verifiable, accurate answers using GenAI [3].

The company's recent earnings report showed strong performance. Progress Software reported $1.40 earnings per share (EPS) for the quarter ending June 30, 2025, beating the consensus estimate of $1.30 by $0.10. The company had a return on equity of 43.72% and a net margin of 6.63%. Revenue for the quarter was $237.36 million, up 35.6% compared to the same quarter last year [2].

Several hedge funds and institutional investors have also made significant changes to their positions in Progress Software. Natixis, Swedbank AB, Goldman Sachs Group Inc., Raymond James Financial Inc., and Nuveen LLC have all increased their stakes in the company [1].

References:

[1] https://www.marketbeat.com/instant-alerts/anthony-folger-sells-5529-shares-of-progress-software-corporation-nasdaqprgs-stock-2025-07-09/
[2] https://finance.yahoo.com/news/progress-software-prgs-slashes-13-005009114.html
[3] https://www.thefastmode.com/solution-vendors-m-a/43030-progress-software-acquires-nuclia-to-enhance-agentic-rag-ai-capabilities