K2 Principal Fund L.P. Raises Stock Holdings in PROS Holdings, Inc. (NYSE:PRO)

K2 Principal Fund L.P. lifted its stake in PROS Holdings, Inc. (NYSE:PRO) by 213.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,518 shares of the software maker’s stock after purchasing an additional 35,739 shares during the quarter. K2 Principal Fund L.P. owned 0.11% of PROS worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PRO. Victory Capital Management Inc. purchased a new stake in PROS during the fourth quarter valued at $218,000. Charles Schwab Investment Management Inc. lifted its holdings in PROS by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 336,223 shares of the software maker’s stock worth $13,042,000 after purchasing an additional 4,057 shares in the last quarter. Norges Bank bought a new position in PROS in the 4th quarter worth approximately $12,436,000. Parallel Advisors LLC grew its holdings in PROS by 137.6% during the 4th quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock valued at $27,000 after buying an additional 406 shares in the last quarter. Finally, Axiom Investors LLC DE lifted its holdings in shares of PROS by 243.0% in the fourth quarter. Axiom Investors LLC DE now owns 363,852 shares of the software maker’s stock worth $14,114,000 after buying an additional 257,777 shares in the last quarter. Institutional investors own 94.27% of the company’s stock.

PROS Stock Down 1.1 %

NYSE PRO opened at $18.40 on Tuesday. The firm has a market cap of $864.87 million, a PE ratio of -17.52 and a beta of 1.20. PROS Holdings, Inc. has a 52 week low of $16.64 and a 52 week high of $40.99. The company has a 50 day moving average price of $20.41 and a 200 day moving average price of $27.68.

PROS (NYSE:PRO) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $82.01 million during the quarter, compared to analysts’ expectations of $81.38 million. During the same quarter last year, the business posted ($0.24) earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that PROS Holdings, Inc. will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of PROS from $42.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. StockNews.com cut PROS from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Robert W. Baird decreased their price objective on PROS from $45.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of PROS in a research report on Monday, September 9th. Finally, Craig Hallum lowered 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PROS has an average rating of “Moderate Buy” and a consensus target price of $34.86.

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.