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Director David Krall Sells 20,000 Shares of Progress Software Corp (PRGS)

GuruFocus Research
·1-min read

Progress Software Corp (NASDAQ:PRGS), a global software company that simplifies the development, deployment, and management of business applications, has seen a recent insider transaction. According to a SEC Filing on April 11, 2024, Director David Krall sold 20,000 shares of the company.Over the past year, the insider has sold a total of 20,000 shares and has not made any purchases of the stock. This latest transaction continues a trend observed within the company, where insider buys have been non-existent over the past year, while there have been 31 insider sells in the same period.

Director David Krall Sells 20,000 Shares of Progress Software Corp (PRGS)
Director David Krall Sells 20,000 Shares of Progress Software Corp (PRGS)

On the day of the insider's recent sale, shares of Progress Software Corp were trading at $51, valuing the company at a market cap of $2.163 billion. The price-earnings ratio of the company stands at 32.51, which is above both the industry median of 26.63 and the historical median for the company.

Director David Krall Sells 20,000 Shares of Progress Software Corp (PRGS)
Director David Krall Sells 20,000 Shares of Progress Software Corp (PRGS)

Considering the stock's price of $51 against the GuruFocus Value of $62.61, Progress Software Corp is deemed Modestly Undervalued with a price-to-GF-Value ratio of 0.81. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.

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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 article first appeared on GuruFocus.