Assenagon Asset Management S.A. Increases Position in PROS Holdings, Inc. (NYSE:PRO)

Assenagon Asset Management S.A. increased its stake in shares of PROS Holdings, Inc. (NYSE:PRO) by 218.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,023 shares of the software maker’s stock after purchasing an additional 286,825 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.89% of PROS worth $7,742,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PROS during the second quarter valued at about $29,000. Quarry LP acquired a new stake in PROS in the second quarter valued at approximately $38,000. Hennion & Walsh Asset Management Inc. grew its holdings in PROS by 27.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 11,141 shares of the software maker’s stock worth $206,000 after purchasing an additional 2,393 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of PROS by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock worth $210,000 after purchasing an additional 484 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in PROS during the 2nd quarter worth $210,000. Institutional investors own 94.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PRO shares. Craig Hallum decreased their price target on PROS from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. KeyCorp dropped their target price on shares of 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 upgraded shares of PROS from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Stifel Nicolaus cut their target price on PROS from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Bank of America lowered their price target on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.29.

PROS Price Performance

NYSE PRO opened at $19.06 on Tuesday. PROS Holdings, Inc. has a 1 year low of $16.64 and a 1 year high of $40.99. The company has a market capitalization of $899.82 million, a PE ratio of -20.72 and a beta of 1.21. The company has a fifty day moving average of $18.51 and a 200 day moving average of $24.61.

PROS (NYSE:PRO) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $82.01 million during the quarter, compared to analysts’ expectations of $81.38 million. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) EPS. Research analysts expect that PROS Holdings, Inc. will post -0.43 earnings per share for the current year.

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.