Progress Software (NASDAQ:PRGS) Stock Unloaded Rep. Kevin Hern

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Progress Software Corporation (NASDAQ:PRGS). In a filing disclosed on April 03rd, the Representative disclosed that they had sold between $50,001 and $100,000 in Progress Software stock on March 16th. The trade occurred in the Representative’s “HERN FAMILY REVOCABLE TRUST” account.

Representative Kevin Hern also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Exact Sciences (NASDAQ:EXAS) on 3/24/2026.
• Sold $50,001 – $100,000 in shares of Prologis (NYSE:PLD) on 3/20/2026.
• Sold $15,001 – $50,000 in shares of T. Rowe Price Group (NASDAQ:TROW) on 3/20/2026.
• Sold $15,001 – $50,000 in shares of Medtronic (NYSE:MDT) on 3/20/2026.
• Sold $500,001 – $1,000,000 in shares of Texas Instruments (NASDAQ:TXN) on 3/18/2026.
• Sold $500,001 – $1,000,000 in shares of Smartstop Self Storage REIT (NYSE:SMA) on 3/18/2026.
• Sold $50,001 – $100,000 in shares of BlackRock MuniAssets Fund (NYSE:MUA) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Cognizant Technology Solutions (NASDAQ:CTSH) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Invesco (NYSE:IVZ) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Becton, Dickinson and Company (NYSE:BDX) on 3/17/2026.

Progress Software Stock Performance

Shares of PRGS stock opened at $28.40 on Tuesday. The stock has a fifty day moving average price of $36.09 and a 200 day moving average price of $40.60. The stock has a market cap of $1.20 billion, a PE ratio of 14.56, a P/E/G ratio of 1.10 and a beta of 0.76. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $65.50. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.49 and a current ratio of 0.47.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.03. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $246.40 million. Progress Software had a return on equity of 43.67% and a net margin of 8.61%.Progress Software’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. Sell-side analysts forecast that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRGS has been the subject of a number of analyst reports. DA Davidson cut their price target on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Oppenheimer dropped their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 1st. Wedbush dropped their price target on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Finally, Jefferies Financial Group lowered their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Five 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, Progress Software has an average rating of “Moderate Buy” and a consensus target price of $52.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PRGS. Hantz Financial Services Inc. lifted its holdings in shares of Progress Software by 194.1% in the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after purchasing an additional 493 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Progress Software during the 2nd quarter valued at $41,000. Kemnay Advisory Services Inc. acquired a new position in shares of Progress Software during the 4th quarter valued at $42,000. Advisors Asset Management Inc. grew its holdings in shares of Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Progress Software by 1,042.5% in the 4th quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after acquiring an additional 1,178 shares during the last quarter.

Insiders Place Their Bets

In other news, EVP Sundar Subramanian sold 21,594 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total value of $813,014.10. Following the completion of the sale, the executive vice president owned 15,542 shares of the company’s stock, valued at $585,156.30. This trade represents a 58.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,546 shares of company stock worth $1,171,546 over the last 90 days. Insiders own 3.40% of the company’s stock.

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 (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.