Craig Hallum Lowers PROS (NYSE:PRO) to Hold

Craig Hallum downgraded shares of PROS (NYSE:PRO) from a buy rating to a hold rating in a report issued on Tuesday morning, Marketbeat reports. Craig Hallum currently has $32.00 target price on the software maker’s stock, down from their prior target price of $40.00.

Separately, Needham & Company LLC restated a buy rating and issued a $40.00 price target on shares of PROS in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $40.50.

PROS Stock Performance

Shares of PRO stock opened at $25.16 on Tuesday. The company has a market capitalization of $1.18 billion, a P/E ratio of -23.96 and a beta of 1.21. The stock has a 50 day moving average price of $29.06 and a two-hundred day moving average price of $33.30. PROS has a fifty-two week low of $23.51 and a fifty-two week high of $40.99.

PROS (NYSE:PRO) last announced its quarterly earnings results on Tuesday, May 7th. The software maker reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $80.69 million during the quarter, compared to analysts’ expectations of $79.84 million. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) EPS. As a group, equities analysts predict that PROS will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In other PROS news, CFO Stefan B. Schulz sold 6,000 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 $186,180.00. Following the completion of the transaction, the chief financial officer now directly owns 258,327 shares of the company’s stock, valued at approximately $8,015,886.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Leland Jourdan sold 2,162 shares of the stock in a transaction 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 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 document filed with the SEC, which is accessible through the SEC website. Also, CFO Stefan B. Schulz sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $31.03, for a total transaction of $186,180.00. Following the sale, the chief financial officer now directly owns 258,327 shares in the company, valued at $8,015,886.81. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On PROS

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in shares of PROS by 137.6% in the fourth quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock worth $27,000 after buying an additional 406 shares in the last quarter. Lindenwold Advisors INC acquired a new position in PROS in the fourth quarter valued at approximately $216,000. Victory Capital Management Inc. purchased a new position in shares of PROS during the fourth quarter worth about $218,000. Principal Financial Group Inc. increased its position in PROS by 9.1% during the first quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock worth $210,000 after buying an additional 484 shares during the period. Finally, Sheets Smith Wealth Management raised its position in PROS by 4.8% in the 4th quarter. Sheets Smith Wealth Management now owns 7,095 shares of the software maker’s stock valued at $275,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.

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.