Progress software CFO Anthony Folger sells $123,776 in shares

Anthony Folger, Chief Financial Officer of Progress Software Corp (NASDAQ:PRGS), sold a total of 3,067 shares of common stock on October 16, 2026. The transactions were valued at approximately $123,776.

The shares were sold in multiple trades at prices ranging from $39.55 to $40.86 per share. These sales were executed pursuant to a pre-existing Rule 10b5-1 trading plan, which Mr. Folger adopted on February 4, 2026.

Following these transactions, Mr. Folger directly holds 49,984 shares of Progress Software Corp common stock.The stock has climbed to $43.35, up from the $39.55-$40.86 sale range, reflecting a 34.9% gain over six months. According to InvestingPro analysis, Progress Software appears undervalued at current levels, with the company maintaining an impressive gross profit margin of 85.8%. Investors seeking deeper insights can access the comprehensive Pro Research Report, available for PRGS and 1,400+ other US equities.

In other recent news, Progress Software reported its fiscal third-quarter 2026 earnings, surpassing Wall Street’s profit forecasts. The company earned $1.69 per share, exceeding the expected $1.52, while revenue was approximately in line with expectations at $246.0 million, compared to a forecast of $246.7 million. Despite the slight revenue miss, Progress Software’s performance was bolstered by lower operating expenses and stronger margins. Additionally, DA Davidson reiterated a Buy rating for the company, setting a price target of $55.00, citing stable results and positive contributions from DOMO to fiscal 2027 revenue. Yorkville Ives also initiated coverage on Progress Software with an outperform rating and a price target of $48.00, highlighting the company’s growth potential in enterprise data management and AI-enabled applications. Progress Software’s acquisition strategy and embedded products are seen as key elements in addressing enterprise AI challenges. These developments reflect the company’s ongoing efforts to strengthen its position in the technology sector.