Progress software chief legal officer sells $46,065 in shares

Yufan Stephanie Wang, Chief Legal Officer at Progress Software Corp (NASDAQ:PRGS), disposed of 1,245 shares of the company’s common stock on October 5, 2026. The shares were sold at a price of $37.0 per share, totaling $46,065.

Following this transaction, Wang directly owns 3,487 shares of Progress Software Corp common stock. The sale was conducted pursuant to a Rule 10b5-1 trading plan that Wang had adopted on January 23, 2026.The insider sale comes as Progress Software trades at $39.33, with the stock showing strong momentum after a 48% gain over the past six months. According to InvestingPro analysis, the company appears undervalued at current levels, with shares trading at a P/E ratio of 17.97. For investors seeking deeper insights, a comprehensive Pro Research Report is available among 1,400+ US equities covered on the platform.

In other recent news, Progress Software reported its fiscal third-quarter 2026 earnings, surpassing Wall Street’s profit forecasts. The company achieved earnings of $1.69 per share, exceeding the estimated $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, the company demonstrated stronger margins and cash flow, contributing to a positive outlook. DA Davidson reiterated a Buy rating on Progress Software, maintaining a price target of $55, and noted that the company’s revenue guidance for fiscal 2027, particularly with DOMO’s contribution, exceeded their expectations. Additionally, Yorkville Ives initiated coverage on Progress Software with an outperform rating and a $48 price target, highlighting the company’s growth potential in enterprise data management and AI-enabled applications. Progress Software’s recent strategic acquisitions and technology advancements are seen as pivotal in addressing enterprise AI challenges. These developments reflect the company’s focus on expanding its infrastructure software platform and enhancing its market position.