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

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

Separately, Craig Hallum downgraded PROS from a buy rating to a hold rating and cut their target price for the stock from $40.00 to $32.00 in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $34.17.

PROS Stock Performance

PRO stock opened at $22.64 on Wednesday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -21.56 and a beta of 1.21. PROS has a fifty-two week low of $21.88 and a fifty-two week high of $40.99. The stock has a fifty day moving average of $26.89 and a 200-day moving average of $31.98.

PROS (NYSE:PRO) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping the consensus estimate 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. During the same quarter in the prior year, the business earned ($0.24) EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts predict that PROS will post -0.5 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On PROS

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of PROS during the 1st quarter valued at about $1,291,000. Vanguard Group Inc. raised its holdings in shares of PROS by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock valued at $178,367,000 after buying an additional 144,729 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of PROS by 21.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,397 shares of the software maker’s stock valued at $17,226,000 after buying an additional 84,591 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of PROS by 12.4% during the 4th quarter. Eagle Asset Management Inc. now owns 768,290 shares of the software maker’s stock valued at $29,802,000 after buying an additional 84,678 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in shares of PROS during the 1st quarter valued at about $775,000. 94.27% of the stock is owned by hedge funds and other institutional investors.

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.