Progress Software (NASDAQ:PRGS) Stock Sold Off 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 Trading Up 0.1%

PRGS traded up $0.03 during mid-day trading on Tuesday, reaching $39.44. The stock had a trading volume of 471,751 shares, compared to its average volume of 843,051. The stock has a market capitalization of $1.62 billion, a P/E ratio of 19.15, a P/E/G 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. The firm’s fifty day simple moving average is $42.06 and its two-hundred day simple moving average is $35.03. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $47.37.

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

Insider Transactions at Progress Software

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRGS. QRG Capital Management Inc. raised its holdings in Progress Software by 27.7% in the second quarter. QRG Capital Management Inc. now owns 12,598 shares of the software maker’s stock worth $423,000 after purchasing an additional 2,732 shares during the period. Tidal Investments LLC increased its position in shares of Progress Software by 203.3% in the 2nd quarter. Tidal Investments LLC now owns 24,802 shares of the software maker’s stock valued at $833,000 after buying an additional 16,625 shares in the last quarter. Engineers Gate Manager LP raised its stake in Progress Software by 321.6% during the 2nd quarter. Engineers Gate Manager LP now owns 54,940 shares of the software maker’s stock worth $1,845,000 after buying an additional 41,910 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Progress Software during the 2nd quarter worth $61,000. Finally, Allworth Financial LP lifted its holdings in Progress Software by 647.2% during the second quarter. Allworth Financial LP now owns 2,406 shares of the software maker’s stock worth $81,000 after acquiring an additional 2,084 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

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.

Progress Software Company Profile

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.