PRGS - Insider Unloading: Francis Charles Kane Sells $286K Worth Of Progress Software Shares | Benzinga
Making a noteworthy insider sell on February 6, Francis Charles Kane, Director at Progress Software (NASDAQ:PRGS), is reported in the latest SEC filing.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday outlined that Kane executed a sale of 5,000 shares of Progress Software with a total value of $286,850.
Tracking the Wednesday's morning session, Progress Software shares are trading at $57.25, showing a down of 0.35%.
Unveiling the Story Behind Progress Software
Progress Software Corporation is a provider of cloud-based security solutions to large-and mid-sized organizations in a wide range of industries. Its product includes OpenEdge; Chef; Developer Tools; Kemp LoadMaster; MOVEit; DataDirect; WhatsUp Gold; Sitefinity; Flowmon and Corticon. The company derives revenue from perpetual licenses to its products, but some products also use term licensing models. Its cloud-based offerings use a subscription-based model. A majority of the firm's revenue is generated in the United States and it also has presence in Canada, the Middle East, and Africa (EMEA), Latin America, and Asia Pacific.
Breaking Down Progress Software's Financial Performance
Revenue Growth: Over the 3 months period, Progress Software showcased positive performance, achieving a revenue growth rate of 12.63% as of 30 November, 2023. ...