Insider transaction and holdings
Subramanian Sundar, who serves as Executive Vice President and General Manager Infrastructure Management at Progress Software (NASDAQ:PRGS), sold 1,352 shares of the company's common stock on January 26, 2026. The shares were sold at $42.37 each, producing gross proceeds of $57,284. The disposition was carried out under a pre-existing Rule 10b5-1 trading plan. After the sale, Sundar directly holds 29,066 shares of Progress Software.
Recent equity awards
On January 22, 2026, Sundar was granted 13,334 restricted stock units (RSUs) and 31,510 employee stock options. The RSUs are scheduled to vest in six equal semiannual installments beginning on October 1, 2026. The option awards carry an exercise price of $42.75, vest in eight equal semiannual installments beginning on October 1, 2026, and are set to expire on January 21, 2033. These terms define the timeline for Sundar's additional potential equity participation in the company.
Quarterly financial results
Progress Software reported fourth-quarter results for fiscal 2025 that included earnings per share of $1.51, which exceeded analyst forecasts of $1.31 by 15.27%. Revenue for the quarter totaled $252.66 million, narrowly missing expectations of $252.71 million. Despite the EPS outperformance, the stock traded lower in aftermarket trading following the release of results.
Analyst commentary
DA Davidson has maintained its Buy rating on Progress Software and kept a $70.00 price target. In reaffirming the recommendation, the firm pointed to Progress Software's strong finish to the fiscal year and cited healthy net new annual recurring revenue (ARR) and software-as-a-service (SaaS) revenues as supportive factors.
Investor takeaways
The combination of an insider sale executed under a Rule 10b5-1 plan, recent equity awards to a senior executive, and mixed quarterly results creates a nuanced picture for market participants. The company delivered an EPS beat while missing revenue expectations by a small margin, and an analyst has reiterated a positive view with a $70 price target.
Source note
The reporting above reflects the disclosed transaction details, equity award terms, and corporate financial results as reported for Progress Software's fiscal fourth quarter of 2025.