PROS (NYSE:PRO) Cut to “Hold” at StockNews.com

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

PRO has been the subject of a number of other reports. Bank of America reduced their target price on shares of PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Robert W. Baird decreased their price target on PROS from $45.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on shares of PROS from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Craig Hallum dropped their target price 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. Finally, Oppenheimer reduced their price target on shares of PROS from $42.00 to $31.00 and set an “outperform” rating for the company 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 MarketBeat.com, PROS has an average rating of “Moderate Buy” and an average price target of $34.86.

PROS Stock Performance

Shares of PROS stock traded down $0.59 on Wednesday, reaching $17.81. 639,928 shares of the company were exchanged, compared to its average volume of 456,985. PROS has a 1-year low of $16.64 and a 1-year high of $40.99. The firm has a market cap of $840.81 million, a price-to-earnings ratio of -16.96 and a beta of 1.20. The company’s 50-day moving average is $20.91 and its two-hundred day moving average is $28.17.

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

Institutional Trading of PROS

A number of hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in PROS by 137.6% during the fourth quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock worth $27,000 after acquiring an additional 406 shares in the last quarter. Principal Financial Group Inc. raised 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 valued at $210,000 after acquiring an additional 484 shares during the period. ProShare Advisors LLC grew its holdings in shares of PROS by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,035 shares of the software maker’s stock valued at $292,000 after buying an additional 632 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PROS by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock worth $289,000 after acquiring an additional 916 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in PROS during the 2nd quarter worth approximately $29,000. 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.