Needham & Company LLC Reiterates Buy Rating for PROS (NYSE:PRO)

PROS (NYSE:PROGet Free Report)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report issued on Friday, Benzinga reports. They presently have a $40.00 price target on the software maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 8.84% from the company’s previous close.

A number of other research firms also recently weighed in on PRO. KeyCorp upgraded PROS from a “sector weight” rating to an “overweight” rating and set a $43.00 target price on the stock in a report on Friday, January 12th. Robert W. Baird upped their price target on PROS from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.67.

Read Our Latest Research Report on PRO

PROS Stock Performance

PRO stock opened at $36.75 on Friday. PROS has a fifty-two week low of $23.96 and a fifty-two week high of $40.99. The business’s 50 day moving average price is $36.79 and its two-hundred day moving average price is $35.60. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -30.12 and a beta of 1.22.

PROS (NYSE:PROGet Free Report) last posted its earnings results on Thursday, February 8th. The software maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The business had revenue of $77.48 million during the quarter, compared to analysts’ expectations of $76.70 million. During the same quarter last year, the business earned ($0.20) EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Sell-side analysts forecast that PROS will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Stefan B. Schulz sold 24,547 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $33.84, for a total value of $830,670.48. Following the transaction, the chief financial officer now directly owns 258,063 shares of the company’s stock, valued at approximately $8,732,851.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stefan B. Schulz sold 24,547 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $33.84, for a total value of $830,670.48. Following the transaction, the chief financial officer now directly owns 258,063 shares of the company’s stock, valued at approximately $8,732,851.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andres Reiner sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $36.42, for a total value of $1,821,000.00. Following the completion of the transaction, the chief executive officer now directly owns 984,055 shares in the company, valued at $35,839,283.10. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PROS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of PROS by 28.7% during the 1st quarter. Raymond James & Associates now owns 26,740 shares of the software maker’s stock valued at $891,000 after buying an additional 5,962 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of PROS by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 150,248 shares of the software maker’s stock valued at $5,005,000 after buying an additional 1,551 shares during the period. US Bancorp DE lifted its holdings in shares of PROS by 11.7% during the 1st quarter. US Bancorp DE now owns 18,237 shares of the software maker’s stock valued at $608,000 after buying an additional 1,912 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of PROS by 20.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,397 shares of the software maker’s stock valued at $112,000 after buying an additional 576 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of PROS by 39.4% during the 1st quarter. MetLife Investment Management LLC now owns 21,261 shares of the software maker’s stock valued at $708,000 after buying an additional 6,014 shares during the period. 94.27% of the stock is owned by institutional investors.

About PROS

(Get Free Report)

PROS Holdings, Inc provides solutions that optimize the processes of selling and shopping in the digital economy worldwide. 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 that enables businesses to optimize, personalize, and harmonize pricing across the complexity of their go-to-market channels in the context of dynamic market and competitive conditions.

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