Insider Selling: Progress Software Director Sells 9,252 Shares of Stock (PRGS)

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Progress Software (NASDAQ:PRGS) Director Michael Mark sold 9,252 shares of Progress Software stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $23.74, for a total value of $219,642.48. Following the completion of the transaction, the director now directly owns 160,429 shares in the company, valued at approximately $3,808,584. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Progress Software (NASDAQ:PRGS) opened at 23.78 on Friday. Progress Software has a 52 week low of $20.06 and a 52 week high of $26.95. The stock’s 50-day moving average is $23.05 and its 200-day moving average is $22.94. The company has a market cap of $1.205 billion and a P/E ratio of 19.55.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Thursday, June 26th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.03. The company had revenue of $80.80 million for the quarter, compared to the consensus estimate of $78.46 million. During the same quarter last year, the company posted $0.27 earnings per share. Progress Software’s revenue was down 1.1% compared to the same quarter last year. Analysts expect that Progress Software will post $1.42 EPS for the current fiscal year.

A number of analysts have recently weighed in on PRGS shares. Analysts at Wedbush raised their price target on shares of Progress Software from $22.00 to $23.00 in a research note on Friday, June 27th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Progress Software from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 4th. They now have a $21.80 price target on the stock. Finally, analysts at Zacks downgraded shares of Progress Software from a “neutral” rating to an “underperform” rating in a research note on Tuesday, May 6th. They now have a $20.30 price target on the stock. Four equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $23.95.

Progress Software Corporation is a global software company. The Company’s portfolio of products provides solutions for enterprise integration, data interoperability and application development, including software-as-a-service (NASDAQ:PRGS) enablement and delivery in the Cloud.

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