Cubist Systematic Strategies LLC Makes New Investment in PROS Holdings, Inc. (NYSE:PRO)

Cubist Systematic Strategies LLC purchased a new stake in shares of PROS Holdings, Inc. (NYSE:PRO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 86,273 shares of the software maker’s stock, valued at approximately $2,472,000. Cubist Systematic Strategies LLC owned about 0.18% of PROS at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PRO. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PROS in the 2nd quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of PROS during the second quarter valued at $38,000. Principal Financial Group Inc. raised its stake in shares of PROS by 9.1% during the first 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 in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in PROS in the second quarter worth about $210,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in PROS in the 2nd quarter valued at about $251,000. 94.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRO. Robert W. Baird reduced their price target on shares of PROS from $45.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of PROS in a research note on Monday, September 9th. KeyCorp lowered their price target on PROS from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. StockNews.com cut PROS from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, 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 report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.86.

PROS Stock Up 1.0 %

Shares of NYSE PRO opened at $18.65 on Friday. The business has a fifty day simple moving average of $18.67 and a 200-day simple moving average of $26.14. The company has a market cap of $876.62 million, a price-to-earnings ratio of -17.76 and a beta of 1.21. PROS Holdings, Inc. has a 12 month low of $16.64 and a 12 month high of $40.99.

PROS (NYSE:PRO) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) earnings per share. As a group, sell-side analysts expect that PROS Holdings, Inc. will post -0.43 EPS for the current fiscal year.

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.