Progress Software Corp CFO Anthony Folger Sells 15,000 Shares
On February 2, 2024, Anthony Folger, the CFO of Progress Software Corp (NASDAQ:PRGS), executed a sale of 15,000 shares of the company's stock, according to a recent SEC Filing. This transaction has been part of a series of sales by the insider over the past year, totaling 31,288 shares sold, with no recorded purchases in the same period.
Progress Software Corp is a global software company that provides application development and digital experience technologies. The company enables customers to develop, deploy and manage business applications efficiently. Progress Software's offerings span web, mobile and data connectivity solutions, as well as cloud-based project management tools.
The insider transaction history for Progress Software Corp shows a pattern of sales by insiders, with 33 insider sells and no insider buys over the past year.
On the valuation front, shares of Progress Software Corp were trading at $57.36 on the day of the insider's recent sale, giving the company a market cap of $2.510 billion. The price-earnings ratio stood at 36.68, above both the industry median of 26.61 and the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a stock price of $57.36 and a GF Value of $63.00, Progress Software Corp has a price-to-GF-Value ratio of 0.91, indicating that the stock is Fairly Valued.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
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.
This article first appeared on GuruFocus.
