PROS (NYSE:PRO) Price Target Cut to $36.00 by Analysts at KeyCorp

PROS (NYSE:PRO) had its price objective decreased by KeyCorp from $43.00 to $36.00 in a research report sent to investors on Wednesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird dropped their price target on shares of PROS from $45.00 to $35.00 and set an outperform rating on the stock in a research note on Wednesday. Craig Hallum dropped their price target on shares of PROS from $32.00 to $31.00 and set a hold rating on the stock in a research note on Wednesday. Needham & Company LLC reaffirmed a buy rating and set a $40.00 price target on shares of PROS in a research note on Wednesday. Oppenheimer dropped their price target on shares of PROS from $42.00 to $31.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus dropped their price target on shares of PROS from $40.00 to $32.00 and set a buy rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $34.17.

PROS Price Performance

Shares of PRO stock opened at $24.10 on Wednesday. The company’s fifty day simple moving average is $27.34 and its 200-day simple moving average is $32.20. PROS has a 52 week low of $23.29 and a 52 week high of $40.99.

PROS (NYSE:PRO) last issued its earnings results on Tuesday, May 7th. The software maker reported $0.04 EPS for the quarter, beating 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. During the same period in the prior year, the business posted ($0.28) EPS. The business’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts forecast that PROS will post -0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Stefan B. Schulz sold 6,000 shares of PROS 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Stefan B. Schulz sold 6,000 shares of PROS 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leland Jourdan sold 2,162 shares of PROS stock in a transaction dated 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 directly 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 owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings 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 buying an additional 406 shares during the period. Lindenwold Advisors INC acquired a new position in PROS during the 4th quarter valued at about $216,000. Victory Capital Management Inc. acquired a new position in PROS during the 4th quarter valued at about $218,000. Principal Financial Group Inc. boosted its stake in PROS by 9.1% during the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock valued at $210,000 after purchasing an additional 484 shares during the period. Finally, Sheets Smith Wealth Management boosted its stake in PROS by 4.8% during 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 period. 94.27% of the stock is owned by institutional investors and hedge funds.

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.