Progress Software (NASDAQ:PRGS) Stock Sold Off by Rep. Kevin Hern

Key Points

• Rep. Kevin Hern sold between $15,001 and $50,000 of Progress Software shares on August 31 through the Hern Family Foundation account. He also reported selling positions in several other companies in mid-September.
• Progress Software reported quarterly EPS of $1.62, beating estimates of $1.46, while revenue rose 6.8% year over year to $253.47 million.
• PRGS opened at $39.41, with analysts maintaining a consensus “Moderate Buy” rating and an average price target of $52.17.

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 Stock Performance

NASDAQ PRGS opened at $39.41 on Tuesday. The stock has a market cap of $1.62 billion, a PE ratio of 19.13, 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 has a 50-day moving average of $42.06 and a 200-day moving average of $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 - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS 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 for the quarter, compared to analyst estimates of $242.74 million. During the same quarter in the prior year, the business earned $1.40 EPS. Progress Software's quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Progress Software Corporation will post 4.77 EPS for the current year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the transaction, the executive vice president owned 18,370 shares in the company, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Progress Software

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. boosted its stake in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker's stock worth $32,000 after acquiring an additional 493 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Progress Software in the second quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Progress Software during the first quarter valued at about $26,000. Parallel Advisors LLC boosted its position in shares of Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker's stock worth $29,000 after purchasing an additional 653 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Progress Software by 192.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker's stock valued at $57,000 after buying an additional 877 shares during the period.

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.

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