Brown Capital Management LLC Lowers Stock Holdings in PROS Holdings, Inc. (NYSE:PRO)

Brown Capital Management LLC cut its stake in shares of PROS Holdings, Inc. (NYSE:PRO) by 23.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 896,481 shares of the software maker’s stock after selling 271,099 shares during the quarter. Brown Capital Management LLC owned approximately 1.90% of PROS worth $16,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in PROS during the 2nd quarter worth about $29,000. Quarry LP purchased a new stake in shares of PROS in the 2nd quarter worth approximately $38,000. Sequoia Financial Advisors LLC bought a new position in shares of PROS during the second quarter valued at approximately $210,000. ProShare Advisors LLC increased its holdings in PROS by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,035 shares of the software maker’s stock valued at $292,000 after buying an additional 632 shares during the period. Finally, Bayesian Capital Management LP bought a new position in PROS in the first quarter worth approximately $298,000. Institutional investors own 94.27% of the company’s stock.

PROS Stock Up 1.7 %

Shares of PROS stock opened at $22.52 on Thursday. PROS Holdings, Inc. has a 52 week low of $16.64 and a 52 week high of $40.99. The company has a 50 day moving average price of $19.62 and a 200 day moving average price of $23.27.

PROS (NYSE:PRO) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $82.70 million during the quarter, compared to analysts’ expectations of $82.32 million. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. On average, equities analysts predict that PROS Holdings, Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on PRO shares. Oppenheimer dropped their target price on PROS from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Northland Securities reiterated an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Stifel Nicolaus reduced their target price on shares of PROS from $40.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com upgraded shares of PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Finally, Needham & Company LLC reduced their price objective on shares of PROS from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $31.63.

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.