Rep. Kevin Hern Sells Off Shares of Progress Software Corporation (NASDAQ:PRGS)

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Progress Software Corporation (NASDAQ:PRGS). In a filing disclosed on April 03rd, the Representative disclosed that they had sold between $50,001 and $100,000 in Progress Software stock on March 16th. The trade occurred in the Representative’s “HERN FAMILY REVOCABLE TRUST” account.

Representative Kevin Hern also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Exact Sciences (NASDAQ:EXAS) on 3/24/2026.
• Sold $50,001 – $100,000 in shares of Prologis (NYSE:PLD) on 3/20/2026.
• Sold $15,001 – $50,000 in shares of T. Rowe Price Group (NASDAQ:TROW) on 3/20/2026.
• Sold $15,001 – $50,000 in shares of Medtronic (NYSE:MDT) on 3/20/2026.
• Sold $500,001 – $1,000,000 in shares of Texas Instruments (NASDAQ:TXN) on 3/18/2026.
• Sold $500,001 – $1,000,000 in shares of Smartstop Self Storage REIT (NYSE:SMA) on 3/18/2026.
• Sold $50,001 – $100,000 in shares of BlackRock MuniAssets Fund (NYSE:MUA) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Cognizant Technology Solutions (NASDAQ:CTSH) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Invesco (NYSE:IVZ) on 3/17/2026.
• Sold $15,001 – $50,000 in shares of Becton, Dickinson and Company (NYSE:BDX) on 3/17/2026.

Progress Software Stock Up 10.2%

Shares of NASDAQ:PRGS opened at $28.40 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.47 and a quick ratio of 0.49. The firm has a market capitalization of $1.20 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.10 and a beta of 0.76. The firm’s 50-day moving average is $36.09 and its two-hundred day moving average is $40.60. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $65.50.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.03. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $246.40 million. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. Analysts predict that Progress Software Corporation will post 4.01 EPS for the current year.

Wall Street Analyst Weigh In

PRGS has been the subject of a number of analyst reports. DA Davidson lowered their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Oppenheimer lowered their price objective on Progress Software from $70.00 to $57.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Wedbush lowered their price objective on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Jefferies Financial Group lowered their price objective on Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Finally, Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.50.

Hedge Funds Weigh In On Progress Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRGS. LSV Asset Management boosted its holdings in Progress Software by 171.2% in the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after purchasing an additional 619,800 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Progress Software in the third quarter valued at approximately $16,324,000. Marshall Wace LLP boosted its holdings in Progress Software by 732.6% in the third quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock valued at $15,700,000 after purchasing an additional 314,459 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Progress Software by 145.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock valued at $20,410,000 after purchasing an additional 275,205 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Progress Software by 26.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after purchasing an additional 243,950 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. This represents a 10.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sundar Subramanian sold 21,594 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the completion of the transaction, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $585,156.30. This trade represents a 58.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,546 shares of company stock valued at $1,171,546 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

About Representative Hern

Kevin Hern (Republican Party) is a member of the U.S. House, representing Oklahoma’s 1st Congressional District. He assumed office on November 13, 2018. His current term ends on January 3, 2027.

Hern (Republican Party) is running for re-election to the U.S. House to represent Oklahoma’s 1st Congressional District. He declared candidacy for the 2026 election.

Kevin Hern went into business as a McDonald’s franchisee in 1999. He acquired 10 McDonald’s franchises by 2012. He served on the McDonald’s National Leadership Team for 13 years, including the tax policy team, the insurance corporation, and as chairman of the economics team. From 2011 to 2015, he was chairman of the finance committee of the Oklahoma Turnpike Authority.

About Progress Software

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.