StockNews.com Downgrades PROS (NYSE:PRO) to Hold

PROS (NYSE:PRO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently weighed in on the company. Oppenheimer decreased their price target on PROS from $42.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. 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, July 31st. Craig Hallum decreased their price objective on shares of PROS from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of PROS in a research report on Monday, September 9th. Finally, Bank of America cut their price target on PROS from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.86.

PROS Price Performance

PRO stock traded down $0.59 during midday trading on Wednesday, reaching $17.81. 639,928 shares of the company’s stock traded hands, compared to its average volume of 456,985. PROS has a fifty-two week low of $16.64 and a fifty-two week high of $40.99. The business has a 50-day moving average price of $20.91 and a two-hundred day moving average price of $28.17. The company has a market capitalization of $840.81 million, a P/E ratio of -16.96 and a beta of 1.20.

PROS (NYSE:PRO) last announced its quarterly earnings results 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 business had revenue of $82.01 million for the quarter, compared to analysts’ expectations of $81.38 million. During the same period last year, the company posted ($0.24) earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts forecast that PROS will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROS

Several large investors have recently modified their holdings of PRO. Russell Investments Group Ltd. bought a new stake in PROS in the first quarter valued at about $1,291,000. Vanguard Group Inc. raised its position in shares of PROS by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock valued at $178,367,000 after acquiring an additional 144,729 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in PROS by 21.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 474,397 shares of the software maker’s stock worth $17,226,000 after purchasing an additional 84,591 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in PROS by 12.4% during the fourth quarter. Eagle Asset Management Inc. now owns 768,290 shares of the software maker’s stock worth $29,802,000 after purchasing an additional 84,678 shares during the last quarter. Finally, Inspire Advisors LLC acquired a new position in PROS in the first quarter worth $775,000. Institutional investors own 94.27% of the company’s stock.

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.