On October 16, 2024, Anthony Folger, Chief Financial Officer of Progress Software Corp (PRGS, Financial), executed a sale of 7,797 shares of the company. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 33,774 shares of the company.
Progress Software Corp (PRGS, Financial) specializes in the development, deployment, and management of business applications. The company's offerings include a range of software products for application development, data integration, and decision analytics.
Over the past year, Anthony Folger has sold a total of 26,564 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed within the company, where there have been 30 insider sells and no insider buys over the same period.
Shares of Progress Software Corp were priced at $67.39 on the day of the sale. The company currently holds a market cap of approximately $2.83 billion. The price-earnings ratio stands at 35.25, which is above both the industry median of 26.66 and the company's historical median.
The stock's valuation, according to GF Value, is set at $62.83, suggesting that with a current price of $67.39, Progress Software Corp is Fairly Valued with a price-to-GF-Value ratio of 1.07.
The GF Value is calculated considering historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of confidence levels regarding the company's current valuation and future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
