Stifel Nicolaus Cuts PROS (NYSE:PRO) Price Target to $32.00

PROS (NYSE:PRO) had its price target reduced by Stifel Nicolaus from $40.00 to $32.00 in a research report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the software maker’s stock.

Several other research firms have also issued reports on PRO. Craig Hallum cut their price target on shares of PROS from $32.00 to $31.00 and set a hold rating for the company in a research report on Wednesday. Oppenheimer dropped their target price on PROS from $42.00 to $31.00 and set an outperform rating for the company in a report on Wednesday. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 price target on shares of PROS in a research note on Wednesday. Finally, Robert W. Baird dropped their price objective on PROS from $45.00 to $35.00 and set an outperform rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $34.17.

PROS Trading Down 3.9 %

PRO stock opened at $22.64 on Wednesday. PROS has a 1-year low of $21.88 and a 1-year high of $40.99. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -21.56 and a beta of 1.21. The company’s 50 day moving average is $26.89 and its 200 day moving average is $31.98.

PROS (NYSE:PRO) last issued its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $82.01 million during the quarter, compared to the consensus estimate of $81.38 million. PROS’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.24) EPS. As a group, sell-side analysts forecast that PROS will post -0.5 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On PROS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of PROS by 137.6% in the 4th quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock worth $27,000 after buying an additional 406 shares during the period. Principal Financial Group Inc. grew its holdings in PROS by 9.1% in the first quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock worth $210,000 after purchasing an additional 484 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of PROS during the second quarter valued at approximately $210,000. Lindenwold Advisors INC purchased a new position in shares of PROS during the fourth quarter valued at approximately $216,000. Finally, Victory Capital Management Inc. bought a new stake in shares of PROS in the 4th quarter worth approximately $218,000. Hedge funds and other institutional investors own 94.27% of the company’s stock.

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.