GuruFocus - On June 3, 2024, Anthony Folger, Chief Financial Officer of Progress Software Corp (NASDAQ:PRGS), executed a sale of 3,767 shares of the company. The transaction was documented in an SEC Filing. Following this transaction, the insider now owns 37,542 shares of the company.
Progress Software Corp (NASDAQ:PRGS) specializes in the development, deployment, and management of business applications. The company's offerings facilitate the creation of applications for any platform and any device.
Over the past year, Anthony Folger has sold a total of 31,280 shares and has not purchased any shares. This recent sale is part of a broader trend observed within the company, where there have been 30 insider sells and no insider buys over the past year.
Shares of Progress Software Corp were trading at $50.5 on the day of the sale. The company has a market cap of $2.176 billion. The price-earnings ratio stands at 32.70, which is above both the industry median of 26.45 and the company's historical median.
According to the GF Value, the intrinsic value of the stock is estimated at $62.79, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.8.
The GF Value is calculated based on historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor which considers past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider might be of interest to current and potential investors, providing insight into insider confidence and valuation perspectives at Progress Software Corp.
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.
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