PROS (NYSE:PRO) Downgraded to “Hold” Rating by StockNews.com

PROS (NYSE:PRO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other equities analysts also recently commented on PRO. Stifel Nicolaus dropped their price target on shares of PROS from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Bank of America reduced their price target on shares of PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Robert W. Baird reduced their price target on shares of PROS from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday. Needham & Company LLC dropped their price objective on shares of PROS from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Oppenheimer dropped their price objective on shares of PROS from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.63.

PROS Price Performance

PROS stock traded up $1.48 during midday trading on Wednesday, reaching $20.86. The company had a trading volume of 1,554,695 shares, compared to its average volume of 458,090. The company has a market capitalization of $984.80 million, a P/E ratio of -22.67 and a beta of 1.21. PROS has a 12-month low of $16.64 and a 12-month high of $40.99. The firm’s fifty day simple moving average is $18.54 and its 200-day simple moving average is $24.47.

PROS (NYSE:PRO) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $82.01 million for the quarter, compared to analyst estimates of $81.38 million. During the same quarter in the prior year, the business earned ($0.24) EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts expect that PROS will post -0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Fred Alger Management LLC lifted its position in PROS by 14.7% in the 2nd quarter. Fred Alger Management LLC now owns 2,919,116 shares of the software maker’s stock valued at $83,633,000 after purchasing an additional 373,982 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of PROS by 218.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 418,023 shares of the software maker’s stock worth $7,742,000 after purchasing an additional 286,825 shares during the last quarter. Kopion Asset Management LLC increased its position in shares of PROS by 60.0% in the third quarter. Kopion Asset Management LLC now owns 461,695 shares of the software maker’s stock worth $8,551,000 after acquiring an additional 173,168 shares in the last quarter. RGM Capital LLC increased its position in shares of PROS by 5.9% in the second quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock worth $85,339,000 after acquiring an additional 166,301 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of PROS by 3.0% in the first quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock worth $178,367,000 after acquiring an additional 144,729 shares in the last quarter. 94.27% of the stock is currently owned by institutional investors.

PROS Company Profile

PROS Holdings, Inc provides software solutions that optimize the processes of selling and shopping in the digital economy in Europe, the Asia Pacific, the Middle East, Africa, and internationally. The company offers PROS Smart Configure Price Quote that improves sales productivity and accelerate deal velocity by automating common sales tasks; and PROS Smart Price Optimization and Management, which enables businesses to optimize, personalize, and harmonize pricing.