Primecap Management Co. CA Reduces Position in PROS Holdings, Inc. (NYSE:PRO)

Primecap Management Co. CA lowered its holdings in PROS Holdings, Inc. (NYSE:PRO) by 1.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 293,570 shares of the software maker’s stock after selling 5,650 shares during the period. Primecap Management Co. CA owned about 0.62% of PROS worth $8,411,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC raised its position 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 in the last quarter. Principal Financial Group Inc. increased its stake in shares of PROS by 9.1% in 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 last quarter. Sequoia Financial Advisors LLC acquired a new stake in PROS in the second quarter valued at $210,000. Victory Capital Management Inc. bought a new position in PROS during the 4th quarter valued at $218,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in PROS during the 2nd quarter worth $251,000. Institutional investors and hedge funds own 94.27% of the company’s stock.

PROS Price Performance

Shares of PRO opened at $17.81 on Thursday. The company has a market cap of $840.81 million, a P/E ratio of -16.96 and a beta of 1.20. PROS Holdings, Inc. has a 12 month low of $16.64 and a 12 month high of $40.99. The stock has a fifty day moving average price of $20.91 and a 200 day moving average price of $28.17.

PROS (NYSE:PRO) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $82.01 million during the quarter, compared to analyst estimates of $81.38 million. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned ($0.24) EPS. As a group, research analysts anticipate that PROS Holdings, Inc. will post -0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

PRO has been the topic of a number of recent analyst reports. Craig Hallum cut their target price on shares of PROS from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. StockNews.com downgraded PROS from a “buy” rating to a “hold” rating in a report on Wednesday. KeyCorp lowered their price target on PROS from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Bank of America reduced their price objective on PROS from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Oppenheimer lowered their target price on shares of PROS from $42.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.86.

PROS 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.