PROS’s (PRO) “Buy” Rating Reaffirmed at Needham & Company LLC

PROS (NYSE:PRO)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They currently have a $40.00 price target on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 21.32% from the stock’s previous close.

Separately, KeyCorp upgraded PROS from a “sector weight” rating to an “overweight” rating and set a $43.00 price objective on the stock in a research report on Friday, January 12th.

PROS Stock Performance

Shares of PRO stock opened at $32.97 on Wednesday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -27.02 and a beta of 1.18. The stock’s 50-day simple moving average is $35.14 and its 200-day simple moving average is $35.73. PROS has a fifty-two week low of $24.61 and a fifty-two week high of $40.99.

PROS (NYSE:PRO) last released its earnings results on Tuesday, May 7th. The software maker reported $0.04 earnings per share (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 previous year, the company earned ($0.28) earnings per share. PROS’s revenue was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that PROS will post -0.54 earnings per share for the current year.

Insider Activity at PROS

In other news, CFO Stefan B. Schulz sold 6,000 shares of PROS stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.92, for a total value of $215,520.00. Following the sale, the chief financial officer now owns 260,223 shares in the company, valued at $9,347,210.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of PROS

A number of institutional investors have recently made changes to their positions in the company. Sheets Smith Wealth Management lifted its stake in shares of PROS by 4.8% in the fourth quarter. Sheets Smith Wealth Management now owns 7,095 shares of the software maker’s stock worth $275,000 after buying an additional 325 shares in the last quarter. Parallel Advisors LLC boosted its holdings in PROS by 137.6% in the 4th quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock valued at $27,000 after purchasing an additional 406 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of PROS by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock valued at $210,000 after buying an additional 484 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PROS by 12.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,172 shares of the software maker’s stock worth $356,000 after buying an additional 1,013 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of PROS by 1.2% during the 3rd quarter. Swiss National Bank now owns 91,200 shares of the software maker’s stock valued at $3,157,000 after buying an additional 1,100 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.