PROS Holdings, Inc. (NYSE:PRO – Get Free Report)’s stock price fell 5.3% during trading on Wednesday after KeyCorp lowered their price target on the stock from $43.00 to $36.00. KeyCorp currently has an overweight rating on the stock. PROS traded as low as $24.06 and last traded at $24.11. 92,637 shares were traded during mid-day trading, a decline of 73% from the average session volume of 345,419 shares. The stock had previously closed at $25.47.
A number of other research firms have also issued reports on PRO. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of PROS in a research note on Wednesday. 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. Craig Hallum cut their price target on shares of PROS from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Wednesday. Robert W. Baird lowered their price objective on shares of PROS from $45.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Oppenheimer reduced their price objective on shares of PROS from $42.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.17.
Insider Buying and Selling
In other PROS news, CFO Stefan B. Schulz sold 6,000 shares of the stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Stefan B. Schulz sold 6,000 shares of the company’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 value of $186,180.00. Following the transaction, the chief financial officer now owns 258,327 shares in the company, valued at $8,015,886.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leland Jourdan sold 2,162 shares of PROS stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $31.03, for a total value of $67,086.86. Following the completion of the transaction, the director now owns 13,313 shares of the company’s stock, valued at $413,102.39. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On PROS
Hedge funds and other institutional investors have recently modified their holdings of the stock. Kings Path Partners LLC purchased a new position in shares of PROS in the 2nd quarter worth $392,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PROS by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock worth $289,000 after acquiring an additional 916 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in PROS during the second quarter valued at approximately $251,000. Raymond James & Associates lifted its holdings in shares of PROS by 14.8% in the 2nd quarter. Raymond James & Associates now owns 138,159 shares of the software maker’s stock worth $3,958,000 after acquiring an additional 17,792 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in PROS by 9.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 131,198 shares of the software maker’s stock worth $3,759,000 after buying an additional 11,594 shares during the period. Hedge funds and other institutional investors own 94.27% of the company’s stock.
PROS Stock Performance
The company has a market capitalization of $1.14 billion, a P/E ratio of -22.82 and a beta of 1.21. The company’s fifty day simple moving average is $27.34 and its 200-day simple moving average is $32.20.
PROS (NYSE:PRO – Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $80.69 million during the quarter, compared to analysts’ expectations of $79.84 million. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.28) EPS. On average, sell-side analysts predict that PROS Holdings, Inc. will post -0.5 EPS for the current year.
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.