PROS (NYSE:PRO) Trading Up 7.7% Following Analyst Upgrade

PROS Holdings, Inc. (NYSE:PROGet Rating)’s stock price was up 7.7% during mid-day trading on Wednesday after Craig Hallum raised their price target on the stock from $32.00 to $37.00. The company traded as high as $30.54 and last traded at $30.07. Approximately 91,710 shares changed hands during trading, a decline of 64% from the average daily volume of 257,948 shares. The stock had previously closed at $27.93.

A number of other analysts have also recently commented on the company. assumed coverage on PROS in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Robert W. Baird upped their price objective on PROS from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price target on shares of PROS in a research note on Wednesday, March 8th. Oppenheimer assumed coverage on shares of PROS in a report on Wednesday, April 19th. They set an “outperform” rating and a $37.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on shares of PROS from $36.00 to $34.00 in a report on Wednesday, May 3rd.

Insider Activity at PROS

In related news, Director Timothy V. Williams sold 3,064 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $24.61, for a total value of $75,405.04. Following the sale, the director now directly owns 119,731 shares of the company’s stock, valued at approximately $2,946,579.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On PROS

A number of institutional investors have recently modified their holdings of the stock. Point72 Middle East FZE purchased a new position in PROS during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in PROS in the first quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its stake in PROS by 302.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,075 shares of the software maker’s stock valued at $29,000 after acquiring an additional 808 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of PROS during the first quarter worth $29,000. Finally, Quarry LP lifted its stake in shares of PROS by 36.1% during the first quarter. Quarry LP now owns 1,512 shares of the software maker’s stock worth $41,000 after buying an additional 401 shares during the period. 96.21% of the stock is owned by hedge funds and other institutional investors.

PROS Stock Up 5.2 %

The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -18.37 and a beta of 1.12. The company’s 50 day moving average price is $26.94 and its 200 day moving average price is $25.70.

PROS (NYSE:PROGet Rating) last posted its earnings results on Tuesday, May 2nd. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $73.18 million for the quarter, compared to analyst estimates of $70.91 million. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. As a group, analysts expect that PROS Holdings, Inc. will post -0.76 earnings per share for the current year.

PROS Company Profile

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PROS Holdings, Inc engages in the provision of solutions that optimize the processes of selling and shopping in the digital economy. Its solutions selling, pricing, and revenue management leverage artificial intelligence (AI), self-learning and automation to ensure that every transactional experience is fast, frictionless and personalized for every shopper, supporting both business-to-business (B2B) and business-to-consumer (B2C) companies across industry verticals.

Further Reading

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