PROS (NYSE:PRO) Earns Buy Rating from Needham & Company LLC

PROS (NYSE:PRO)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $40.00 price target on the software maker’s stock. Needham & Company LLC’s price target suggests a potential upside of 56.80% from the stock’s current price.

Separately, Craig Hallum downgraded shares of PROS from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $32.00 in a report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

PROS Stock Up 0.8 %

Shares of PROS stock opened at $25.51 on Wednesday. The company has a market cap of $1.20 billion, a P/E ratio of -24.30 and a beta of 1.21. PROS has a 52-week low of $23.29 and a 52-week high of $40.99. The firm’s 50 day moving average price is $27.34 and its 200-day moving average price is $32.20.

PROS (NYSE:PRO) last released 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 analysts’ expectations of $79.84 million. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.28) EPS. As a group, equities research analysts forecast that PROS will post -0.5 EPS for the current fiscal year.

Insider Activity

In other news, CFO Stefan B. Schulz sold 6,000 shares of the company’s 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 sale, the chief financial officer now directly owns 258,327 shares of the company’s stock, valued at approximately $8,015,886.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 value of $186,180.00. Following the completion of the transaction, the chief financial officer now directly owns 258,327 shares in the company, valued at approximately $8,015,886.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leland Jourdan sold 2,162 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 $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. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PROS

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of 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 period. Principal Financial Group Inc. raised 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 acquiring an additional 484 shares during the period. Sequoia Financial Advisors LLC acquired a new position in PROS during the second quarter worth $210,000. Lindenwold Advisors INC acquired a new position in PROS during the fourth quarter worth $216,000. Finally, Victory Capital Management Inc. acquired a new position in PROS during the fourth quarter worth $218,000. 94.27% of the stock is currently owned by institutional investors and hedge funds.

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.