On May 15, 2024, Kathryn Kulikoski, the Chief People Officer of Progress Software Corp (NASDAQ:PRGS), executed a sale of 6,450 shares of the company. The transaction was filed on the same day with the SEC. This sale is part of a series of transactions over the past year, where the insider has sold a total of 20,979 shares.
Progress Software Corp (NASDAQ:PRGS) is a global software company that simplifies the development, deployment, and management of business applications on-premise or in the cloud. The company’s products provide solutions for developing and deploying mission-critical, cognitive-first business applications.
On the date of the sale, shares of Progress Software Corp were priced at $51.34. This pricing gives the company a market cap of approximately $2.234 billion. The price-earnings ratio of the company stands at 33.57, which is above both the industry median of 27 and the historical median for the company.
According to the GF Value, the intrinsic value of Progress Software Corp is estimated at $62.72 per share, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.82.
The insider transaction history for Progress Software Corp shows a trend of more insider selling than buying over the past year, with 31 insider sells and no insider buys.
This recent sale by the insider aligns with the ongoing trend of insider selling at Progress Software Corp, which may be of interest to current and potential investors looking to understand insider behaviors within the company.
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