PROS (NYSE:PRO) Rating Reiterated by Needham & Company LLC

PROS (NYSE:PRO)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $40.00 price objective on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 69.78% from the stock’s current price.

Separately, Craig Hallum downgraded PROS from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $32.00 in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.17.

PROS Price Performance

NYSE PRO opened at $23.56 on Wednesday. The business has a fifty day moving average price of $27.21 and a 200 day moving average price of $32.15. PROS has a one year low of $23.29 and a one year high of $40.99.

PROS (NYSE:PRO) last posted its quarterly earnings data on Tuesday, May 7th. The software maker reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $80.69 million during the quarter, compared to analyst estimates of $79.84 million. During the same period in the prior year, the company posted ($0.28) earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts expect that PROS will post -0.5 earnings per share for the current fiscal year.

Insider Activity at PROS

In other news, CFO Stefan B. Schulz sold 6,000 shares of PROS stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total value of $186,180.00. Following the completion of the transaction, the chief financial officer now owns 258,327 shares in the company, valued at approximately $8,015,886.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Leland Jourdan sold 2,162 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total transaction of $67,086.86. Following the sale, the director now owns 13,313 shares of the company’s stock, valued at approximately $413,102.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stefan B. Schulz sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total value of $186,180.00. Following the sale, the chief financial officer now directly owns 258,327 shares in the company, valued at approximately $8,015,886.81. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PROS

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in PROS by 1.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 68,851 shares of the software maker’s stock worth $2,671,000 after buying an additional 1,157 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in PROS by 0.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 519,814 shares of the software maker’s stock worth $20,164,000 after buying an additional 4,667 shares during the period. Allspring Global Investments Holdings LLC increased its position in PROS by 1,874.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 70,508 shares of the software maker’s stock worth $2,735,000 after buying an additional 66,937 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of PROS by 0.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 3,250,044 shares of the software maker’s stock valued at $126,069,000 after purchasing an additional 23,765 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PROS by 12.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,172 shares of the software maker’s stock valued at $356,000 after purchasing an additional 1,013 shares during the period. Institutional investors and hedge funds own 94.27% of the company’s stock.

About PROS

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.