Rep. Kevin Hern Sells Off Shares of Progress Software Corporation (NASDAQ:PRGS)

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Progress Software Corporation (NASDAQ:PRGS). In a filing disclosed on September 25th, the Representative disclosed that they had sold between $15,001 and $50,000 in Progress Software stock on August 31st. The trade occurred in the Representative’s “HERN FAMILY FOUNDATION” account.

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

• Sold $15,001 – $50,000 in shares of CenterPoint Energy (NYSE:CNP) on 9/15/2026.
• Sold $1,001 – $15,000 in shares of TJX Companies (NYSE:TJX) on 9/15/2026.
• Sold $15,001 – $50,000 in shares of STERIS (NYSE:STE) on 9/15/2026.
• Sold $1,001 – $15,000 in shares of Seagate Technology (NASDAQ:STX) on 9/15/2026.
• Sold $15,001 – $50,000 in shares of NextEra Energy (NYSE:NEE) on 9/14/2026.
• Sold $1,001 – $15,000 in shares of Marsh & McLennan Companies (NYSE:MRSH) on 9/14/2026.
• Sold $15,001 – $50,000 in shares of IQVIA (NYSE:IQV) on 9/14/2026.
• Sold $15,001 – $50,000 in shares of Home Depot (NYSE:HD) on 9/14/2026.
• Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 9/14/2026.
• Sold $15,001 – $50,000 in shares of Emerson Electric (NYSE:EMR) on 9/14/2026.

Progress Software Price Performance

Shares of Progress Software stock traded up $0.03 during mid-day trading on Tuesday, reaching $39.44. 471,228 shares of the stock were exchanged, compared to its average volume of 842,875. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $47.37. The firm has a 50-day simple moving average of $42.06 and a 200 day simple moving average of $35.03.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. During the same period in the prior year, the company earned $1.40 EPS. Progress Software’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PRGS shares. Jefferies Financial Group raised shares of Progress Software to a “hold” rating in a research note on Friday. Guggenheim reissued a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Oppenheimer lowered their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Finally, DA Davidson increased their price target on Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Insider Activity

In other news, EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the sale, the executive vice president directly owned 18,370 shares in the company, valued at $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its position in shares of Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after acquiring an additional 493 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Progress Software in the 2nd quarter worth $28,000. Geneos Wealth Management Inc. acquired a new position in Progress Software in the 1st quarter worth $26,000. Parallel Advisors LLC increased its holdings in Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Progress Software by 192.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after purchasing an additional 877 shares in the last quarter.

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 Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company’s products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.