On May 14, 2024, John Ainsworth, EVP/GM App & Data Platform at Progress Software Corp (PRGS, Financial), executed a sale of 30,631 shares of the company. The transaction was filed on the same day through an SEC Filing. This sale occurred at a price of $51.03 per share, totaling approximately $1,563,390.
Progress Software Corp (PRGS, Financial) specializes in the development of software solutions that simplify the development, deployment, and management of business applications on-premise or in the cloud. The company's products are designed to enhance operational efficiency and provide user experience optimization.
Over the past year, the insider has sold a total of 30,631 shares and has not made any purchases. This recent transaction follows a trend observed within the company, where there have been 30 insider sells and no insider buys over the last year.
On the valuation front, Progress Software Corp (PRGS, Financial) has a market cap of approximately $2.22 billion. The stock's price-earnings ratio stands at 33.40, which is above both the industry median of 27.05 and the company's historical median.
According to the GF Value, the intrinsic value of the stock is estimated at $62.72, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.81.
The GF Value is calculated considering historical 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.
The insider's recent sale could be of interest to current and potential investors, providing insights into insider confidence and potential future stock movements.
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.
