PROS (NYSE:PRO) Stock Rating Lowered by StockNews.com

PROS (NYSE:PRO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird dropped their price target on shares of PROS from $45.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. KeyCorp cut their price target on PROS from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Bank of America decreased their price objective on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Oppenheimer cut their target price on PROS from $42.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of PROS in a research report on Monday, September 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PROS presently has an average rating of “Moderate Buy” and an average target price of $34.86.

PROS Price Performance

PRO stock opened at $19.20 on Wednesday. The company has a 50 day moving average price of $20.79 and a 200 day moving average price of $28.10. PROS has a fifty-two week low of $16.64 and a fifty-two week high of $40.99. The stock has a market capitalization of $906.43 million, a PE ratio of -18.30 and a beta of 1.20.

PROS (NYSE:PRO) last released its earnings results on Tuesday, July 30th. The software maker reported $0.07 earnings per share 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 the consensus estimate of $81.38 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) EPS. As a group, equities analysts expect that PROS will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROS

Institutional investors and hedge funds have recently modified their holdings of the business. Fred Alger Management LLC boosted its stake 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 worth $83,633,000 after purchasing an additional 373,982 shares during the period. Norges Bank bought a new position in shares of PROS during the fourth quarter worth about $12,436,000. Axiom Investors LLC DE raised its position in PROS by 243.0% in the 4th quarter. Axiom Investors LLC DE now owns 363,852 shares of the software maker’s stock valued at $14,114,000 after buying an additional 257,777 shares during the last quarter. RGM Capital LLC raised its position in PROS by 5.9% in the 2nd quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock valued at $85,339,000 after buying an additional 166,301 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in PROS by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock valued at $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 and hedge funds.

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.