JPMorgan Chase & Co. Acquires 338,158 Shares of PROS Holdings, Inc. (NYSE:PRO)

JPMorgan Chase & Co. increased its stake in PROS Holdings, Inc. (NYSE:PRO) by 570.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 397,424 shares of the software maker’s stock after buying an additional 338,158 shares during the quarter. JPMorgan Chase & Co.’s holdings in PROS were worth $7,360,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of PROS by 570.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 266,132 shares of the software maker’s stock worth $4,929,000 after purchasing an additional 226,443 shares during the period. Barclays PLC raised its stake in shares of PROS by 345.4% in the third quarter. Barclays PLC now owns 238,382 shares of the software maker’s stock valued at $4,415,000 after buying an additional 184,856 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PROS by 3,489.6% during 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 last quarter. RGM Capital LLC grew its stake in shares of PROS by 5.9% during the 2nd quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock worth $85,339,000 after acquiring an additional 166,301 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in PROS by 262.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 31,638 shares of the software maker’s stock worth $586,000 after acquiring an additional 22,903 shares during the last quarter. Institutional investors own 94.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PRO. Needham & Company LLC dropped their price target on shares of PROS from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. KeyCorp dropped their target price on PROS from $36.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Oppenheimer decreased their price objective on PROS from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Northland Securities restated an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PROS presently has an average rating of “Buy” and an average target price of $31.88.

PROS Price Performance

Shares of PRO stock opened at $21.92 on Wednesday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -35.35 and a beta of 1.21. PROS Holdings, Inc. has a 1 year low of $16.64 and a 1 year high of $38.71. The firm has a fifty day moving average price of $22.96 and a 200-day moving average price of $21.45.

PROS (NYSE:PRO) last announced its quarterly earnings data 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 business had revenue of $82.70 million during the quarter, compared to analysts’ expectations of $82.32 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. PROS’s revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that PROS Holdings, Inc. will post -0.29 EPS for the current year.

About PROS

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.