Oppenheimer Trims PROS (NYSE:PRO) Target Price to $31.00

PROS (NYSE:PRO) had its price objective reduced by Oppenheimer from $42.00 to $31.00 in a research note published on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the software maker’s stock.

PRO has been the topic of several other reports. Needham & Company LLC reaffirmed a buy rating and set a $40.00 price target on shares of PROS in a report on Wednesday. Craig Hallum cut shares of PROS from a buy rating to a hold rating and decreased 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 issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $34.17.

PROS Stock Performance

Shares of PRO stock opened at $22.64 on Wednesday. PROS has a fifty-two week low of $21.88 and a fifty-two week high of $40.99. The stock’s fifty day moving average price is $26.89 and its two-hundred day moving average price is $31.98. The company has a market cap of $1.07 billion, a PE ratio of -21.56 and a beta of 1.21.

PROS (NYSE:PRO) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $82.01 million during the quarter, compared to analyst estimates of $81.38 million. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned ($0.24) earnings per share. On average, equities analysts predict that PROS will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On PROS

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kings Path Partners LLC acquired a new stake in PROS during the 2nd quarter valued at approximately $392,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PROS by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock worth $289,000 after buying an additional 916 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of PROS during the second quarter worth $251,000. Raymond James & Associates raised its stake in PROS by 14.8% during the second quarter. Raymond James & Associates now owns 138,159 shares of the software maker’s stock worth $3,958,000 after buying an additional 17,792 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in PROS by 9.7% in the second quarter. Assenagon Asset Management S.A. now owns 131,198 shares of the software maker’s stock valued at $3,759,000 after buying an additional 11,594 shares during the period. 94.27% of the stock is owned by institutional investors and hedge funds.

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.