Chief Information Officer of $PRGS sells 2,186 shares in insider transaction

In a recent transaction disclosed in a filing with the Securities and Exchange Commission, Ian Pitt, the Chief Information Officer of $PRGS, divested 2,186 shares of the company on June 30, 2025, yielding an estimated sum of $142,549. This sale represented approximately 25.1% of Pitt’s holdings of this class of stock, leaving him with 6,513 shares. Over the past six months, insiders at $PRGS have executed a total of 15 open-market trades involving the company’s stock, with all 15 involving sales and no acquisitions.

Among the notable recent transactions within $PRGS were those by some key executives within the company. EVP/GM Digital Experience Loren Jarrett unloaded 44,167 shares, generating around $2,643,297. Likewise, Chief Financial Officer Anthony Folger sold 15,000 shares, amounting to approximately $844,555. Chief Accounting Officer Domenic Lococo relinquished 8,185 shares, valued at $466,647. Chief Information Officer Ian Pitt made three sales, offloading 4,371 shares for an estimated $266,002. Chief Legal Officer Yufan Stephanie Wang divested 1,428 shares, generating $83,209, while EVP/GM Infrastructure Management Sundar Subramanian sold 501 shares, bringing in $30,210.

In terms of hedge fund activity surrounding $PRGS, recent trends have seen 150 institutional investors increasing their holdings in the stock, while 163 have scaled back their positions in the latest quarter. Notably, Pacer Advisors, Inc. drastically reduced its holdings by 1,140,631 shares (a 99.8% reduction) in the first quarter of 2025, amounting to a sum of $58,753,902. On the other hand, Capital International Investors augmented its position with 722,081 shares added to its portfolio, estimated at $37,194,392. Wellington Management Group LLP saw an increase of 478,627 shares (a rise of 54.5%) in its holdings, valued at $24,654,076. Conversely, Renaissance Technologies LLC and Schroder Investment Management Group decreased their stakes by 381,611 shares and 296,767 shares, respectively.

Turning to analyst ratings, two firms recently issued buy ratings for $PRGS, with no sell ratings reported. Wedbush released an “Outperform” rating on June 27, 2025, while Guggenheim put forth a “Buy” recommendation on the same day. Regarding price targets, three analysts have provided insights into $PRGS in the last six months, offering a median target price of $75.0. Daniel Ives from Wedbush set a target price of $75.0 on June 27, 2025, John Difucci from Guggenheim offered a target price of $83.0 on the same day, and Brent Thill from Jefferies projected a target price of $70.0 on January 6, 2025.

It is important to note that the information provided in this article is not financial advice but rather intended to inform readers of recent developments related to $PRGS. For further details and disclaimers, interested individuals may refer to Quiver Quantitative’s reports.