GuruFocus - On July 16, 2024, Loren Jarrett, Executive Vice President and General Manager of Digital Experience at Progress Software Corp (NASDAQ:PRGS), sold 9,961 shares of the company. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 13,406 shares of the company.
Progress Software Corp (NASDAQ:PRGS) specializes in the development of software products to secure and manage applications deployed on-premise or in the cloud. The company's offerings facilitate the creation of applications with high availability and low operational costs.
Over the past year, Loren Jarrett has engaged in multiple transactions involving company shares, selling a total of 9,961 shares and purchasing none. This recent sale is part of a broader trend observed within the company, where there have been 32 insider sells and no insider buys over the last year.
Shares of Progress Software Corp were priced at $55.98 on the day of the sale, giving the company a market cap of approximately $2.41 billion. The price-earnings ratio stands at 34.41, which is above both the industry median of 27.16 and the company's historical median.
According to the GF Value, the intrinsic value of the stock is estimated at $61.78, suggesting that the stock is Fairly Valued with a price-to-GF-Value ratio of 0.91.
The GF Value is calculated considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider selling activity may be of interest to current and potential investors, providing insights into insider confidence and potential future stock performance.
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 content was originally published on Gurufocus.com
