Progress Software (NASDAQ:PRGS) Shares Acquired Rep. Lisa C. McClain

Key Points

• Representative Lisa C. McClain purchased shares of Progress Software Corporation (NASDAQ:PRGS) between $1,001 and $15,000 on July 10th, as disclosed in a filing on August 13th.
• Progress Software reported $1.40 EPS for the last quarter, beating estimates and reflecting a 35.6% increase in revenue compared to the same quarter last year.
• Insider activity included Director David Krall purchasing 5,125 shares, increasing his ownership by 5.40%, while CFO Anthony Folger sold 5,529 shares, decreasing his position by 11.26%.

Representative Lisa C. McClain (R-Michigan) recently bought shares of Progress Software Corporation NASDAQ: PRGS. In a filing disclosed on August 13th, the Representative disclosed that they had bought between $1,001 and $15,000 in Progress Software stock on July 10th. The trade occurred in the Representative's "CHARLES SCHWAB BROKERAGE ACCOUNT 924" account.

Representative Lisa C. McClain also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Autoliv NYSE: ALV on 8/4/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 8/4/2025.
• Sold $1,001 - $15,000 in shares of Applied Materials NASDAQ: AMAT on 8/4/2025.
• Sold $1,001 - $15,000 in shares of Arthur J. Gallagher & Co. NYSE: AJG on 8/4/2025.
• Sold $1,001 - $15,000 in shares of SAP NYSE: SAP on 7/22/2025.
• Purchased $1,001 - $15,000 in shares of XPO NYSE: XPO on 7/22/2025.
• Purchased $1,001 - $15,000 in shares of Lithia Motors NYSE: LAD on 7/22/2025.
• Sold $1,001 - $15,000 in shares of Sanofi NASDAQ: SNY on 7/22/2025.
• Sold $1,001 - $15,000 in shares of Waters NYSE: WAT on 7/22/2025.
• Purchased $1,001 - $15,000 in shares of Group 1 Automotive NYSE: GPI on 7/22/2025.

Progress Software Trading Up 0.1%

PRGS traded up $0.0510 during trading on Thursday, reaching $44.6110. The company had a trading volume of 111,201 shares, compared to its average volume of 781,697. The firm's 50-day simple moving average is $52.19 and its 200 day simple moving average is $56.08. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 2.13 and a beta of 0.70. Progress Software Corporation has a 12-month low of $42.88 and a 12-month high of $70.56. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. Progress Software had a return on equity of 43.72% and a net margin of 6.63%.The firm had revenue of $237.36 million for the quarter, compared to analysts' expectations of $237.23 million. During the same quarter last year, the business posted $1.09 EPS. Progress Software's revenue was up 35.6% on a year-over-year basis. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. Equities research analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. LPL Financial LLC bought a new position in Progress Software in the fourth quarter valued at approximately $248,000. Invesco Ltd. lifted its holdings in Progress Software by 0.7% during the 4th quarter. Invesco Ltd. now owns 802,523 shares of the software maker's stock worth $52,284,000 after purchasing an additional 5,474 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Progress Software during the 4th quarter worth approximately $15,432,000. Bessemer Group Inc. lifted its position in shares of Progress Software by 149.5% during the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker's stock valued at $33,000 after acquiring an additional 296 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in shares of Progress Software by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker's stock valued at $290,000 after acquiring an additional 239 shares during the period.

Insider Activity

In other news, CFO Anthony Folger sold 5,529 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $52.97, for a total transaction of $292,871.13. Following the completion of the sale, the chief financial officer directly owned 43,559 shares in the company, valued at approximately $2,307,320.23. This represents a 11.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Krall purchased 5,125 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $48.90 per share, with a total value of $250,612.50. Following the acquisition, the director directly owned 100,090 shares in the company, valued at $4,894,401. This represents a 5.40% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company's stock.

Analyst Ratings Changes

PRGS has been the subject of several research reports. Wall Street Zen lowered Progress Software from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Wedbush reiterated an "outperform" rating and set a $75.00 price target on shares of Progress Software in a report on Friday, June 27th. Citigroup reduced their target price on Progress Software from $64.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Guggenheim reaffirmed a "buy" rating and issued a $83.00 price target on shares of Progress Software in a research report on Friday, June 27th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Progress Software in a research report on Friday, June 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $73.33.

About Representative McClain

Lisa McClain (Republican Party) is a member of the U.S. House, representing Michigan's 9th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2027. McClain (Republican Party) is running for re-election to the U.S. House to represent Michigan's 9th Congressional District. She declared candidacy for the 2026 election. Lisa McClain lives in Romeo, Michigan. McClain earned a bachelor's degree in business administration from Northwood University. Her career experience includes founding and working as the president of North End Support Team.

About Progress Software

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.