Needham & Company LLC Reaffirms Buy Rating for PROS (NYSE:PRO)

Needham & Company LLC restated their buy rating on shares of PROS (NYSE:PROFree Report) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $40.00 target price on the software maker’s stock.

PROS Stock Performance

Shares of NYSE PRO opened at $31.17 on Thursday. The company’s fifty day moving average is $33.94 and its two-hundred day moving average is $35.49. PROS has a one year low of $27.58 and a one year high of $40.99.

PROS (NYSE:PROGet Free Report) last issued its earnings results on Tuesday, May 7th. The software maker reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $80.69 million for the quarter, compared to analyst estimates of $79.84 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that PROS will post -0.5 earnings per share 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 stock was sold at an average price of $31.03, for a total value of $186,180.00. Following the completion of the transaction, the chief financial officer now owns 258,327 shares in the company, valued at $8,015,886.81. The sale was disclosed in a document filed with the SEC, which is available at this link. In other PROS news, 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 sale, the chief financial officer now owns 258,327 shares of the company’s stock, valued at $8,015,886.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leland Jourdan sold 2,162 shares of the firm’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 transaction of $67,086.86. Following the transaction, the director now directly owns 13,313 shares of the company’s stock, valued at $413,102.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,162 shares of company stock worth $468,787. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of PROS

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in PROS by 7.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 237,860 shares of the software maker’s stock valued at $8,235,000 after purchasing an additional 16,645 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PROS by 33.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,159 shares of the software maker’s stock valued at $282,000 after buying an additional 2,030 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of PROS by 95.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,571 shares of the software maker’s stock valued at $124,000 after buying an additional 1,748 shares during the period. Teacher Retirement System of Texas acquired a new stake in PROS during the third quarter worth approximately $244,000. Finally, Jump Financial LLC purchased a new stake in PROS in the 3rd quarter worth approximately $1,367,000. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

About PROS

(Get Free Report)

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.

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