PROS (NYSE:PRO) Cut to “Market Perform” at Oppenheimer

Oppenheimer lowered shares of PROS (NYSE:PRO) from an outperform rating to a market perform rating in a report released on Thursday, MarketBeat reports.

PRO has been the subject of a number of other reports. Robert W. Baird lifted their price target on PROS from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of PROS from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Northland Securities reissued an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of PROS in a report on Wednesday, October 30th. KeyCorp reduced their price objective on PROS from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Needham & Company LLC lowered their target price on PROS from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.88.

PROS Price Performance

Shares of PROS stock opened at $22.32 on Thursday. The firm has a market capitalization of $1.06 billion, a PE ratio of -35.99 and a beta of 1.21. PROS has a 52-week low of $16.64 and a 52-week high of $38.71. The company’s fifty day moving average price is $22.92 and its two-hundred day moving average price is $21.34.

PROS (NYSE:PRO) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $82.70 million during the quarter, compared to analyst estimates of $82.32 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that PROS will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRO. BNP Paribas Financial Markets boosted its stake in PROS by 570.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 266,132 shares of the software maker’s stock worth $4,929,000 after acquiring an additional 226,443 shares during the last quarter. Barclays PLC boosted its position in shares of PROS by 345.4% during the third quarter. Barclays PLC now owns 238,382 shares of the software maker’s stock worth $4,415,000 after purchasing an additional 184,856 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of PROS by 3,489.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 268,362 shares of the software maker’s stock valued at $4,970,000 after buying an additional 260,886 shares during the period. RGM Capital LLC increased its position in shares of PROS by 5.9% in the 2nd quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock valued at $85,339,000 after buying an additional 166,301 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in PROS by 262.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 31,638 shares of the software maker’s stock worth $586,000 after buying an additional 22,903 shares during the period. 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.