Rep. Lisa C. McClain Sells Progress Software Corporation (NASDAQ:PRGS) Shares

Representative Lisa C. McClain (R-Michigan) recently sold shares of Progress Software Corporation (NASDAQ:PRGS). In a filing disclosed on August 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Progress Software stock on July 16th. The trade occurred in the Representative’s “CHARLES SCHWAB BROKERAGE ACCOUNT 924” account.

Representative Lisa C. McClain also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Autoliv (NYSE:ALV) on 8/4/2025.
• Sold $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 8/4/2025.
• Sold $1,001 – $15,000 in shares of Applied Materials (NASDAQ:AMAT) on 8/4/2025.
• Sold $1,001 – $15,000 in shares of Arthur J. Gallagher & Co. (NYSE:AJG) on 8/4/2025.
• Sold $1,001 – $15,000 in shares of SAP (NYSE:SAP) on 7/22/2025.
• Purchased $1,001 – $15,000 in shares of XPO (NYSE:XPO) on 7/22/2025.
• Purchased $1,001 – $15,000 in shares of Lithia Motors (NYSE:LAD) on 7/22/2025.
• Sold $1,001 – $15,000 in shares of Sanofi (NASDAQ:SNY) on 7/22/2025.
• Sold $1,001 – $15,000 in shares of Waters (NYSE:WAT) on 7/22/2025.
• Purchased $1,001 – $15,000 in shares of Group 1 Automotive (NYSE:GPI) on 7/22/2025.

Progress Software Stock Performance

Shares of PRGS stock opened at $45.73 on Monday. The business’s 50-day moving average price is $53.33 and its 200-day moving average price is $56.32. Progress Software Corporation has a 12 month low of $42.88 and a 12 month high of $70.56. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 2.16 and a beta of 0.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Monday, June 30th. The software maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. The firm had revenue of $237.36 million for the quarter, compared to analyst estimates of $237.23 million. Progress Software had a return on equity of 43.72% and a net margin of 6.63%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the firm posted $1.09 earnings per share. Equities research analysts forecast that Progress Software Corporation will post 4.01 EPS for the current year.

Institutional Investors Weigh In On Progress Software

A number of institutional investors and hedge funds have recently bought and sold shares of PRGS. Public Sector Pension Investment Board grew its stake in Progress Software by 5.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 166,241 shares of the software maker’s stock valued at $10,613,000 after purchasing an additional 8,601 shares during the period. Tower Research Capital LLC TRC grew its stake in Progress Software by 532.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,663 shares of the software maker’s stock valued at $489,000 after purchasing an additional 6,452 shares during the period. Vident Advisory LLC bought a new position in Progress Software in the 2nd quarter valued at $219,000. Two Sigma Securities LLC bought a new position in Progress Software in the 2nd quarter valued at $334,000. Finally, Tidal Investments LLC bought a new position in Progress Software in the 2nd quarter valued at $792,000.

Insider Buying and Selling at Progress Software

In other Progress Software news, Director David Krall acquired 5,125 shares of Progress Software stock in a transaction on Wednesday, July 23rd. The stock was purchased at an average price of $48.90 per share, for a total transaction of $250,612.50. Following the purchase, the director directly owned 100,090 shares of the company’s stock, valued at $4,894,401. This trade represents a 5.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rainer Gawlick acquired 1,710 shares of Progress Software stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $43.48 per share, with a total value of $74,350.80. Following the purchase, the director directly owned 55,544 shares in the company, valued at approximately $2,415,053.12. This trade represents a 3.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wall Street Zen lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. Citigroup dropped their price target on Progress Software from $64.00 to $57.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Jefferies Financial Group reissued a “hold” rating on shares of Progress Software in a research note on Friday, June 27th. Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, June 27th. Finally, Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Progress Software in a research note on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.33.

About Representative McClain

Lisa McClain (Republican Party) is a member of the U.S. House, representing Michigan’s 9th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2027.

McClain (Republican Party) is running for re-election to the U.S. House to represent Michigan’s 9th Congressional District. She declared candidacy for the 2026 election.

Lisa McClain lives in Romeo, Michigan. McClain earned a bachelor’s degree in business administration from Northwood University. Her career experience includes founding and working as the president of North End Support Team.

About Progress Software

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.