PROS (NYSE:PRO) Shares Gap Down After Earnings Miss

PROS Holdings, Inc. (NYSE:PROGet Free Report)’s share price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $36.01, but opened at $33.75. PROS shares last traded at $34.03, with a volume of 184,541 shares changing hands.

The software maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The firm had revenue of $77.48 million for the quarter, compared to analyst estimates of $76.70 million. During the same quarter in the prior year, the company earned ($0.20) EPS. PROS’s revenue for the quarter was up 9.2% compared to the same quarter last year.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on PRO

Insider Transactions at PROS

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

Institutional Investors Weigh In On PROS

A number of hedge funds have recently made changes to their positions in the company. Point72 Middle East FZE acquired a new stake in PROS in the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC increased its position in PROS by 302.6% in the 1st 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 PROS in the 1st quarter valued at about $29,000. International Assets Investment Management LLC acquired a new stake in PROS in the 3rd quarter valued at about $30,000. Finally, Pinebridge Investments L.P. increased its position in PROS by 1,056.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,156 shares of the software maker’s stock valued at $36,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.

PROS Stock Performance

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -30.12 and a beta of 1.22. The firm’s 50-day simple moving average is $36.79 and its two-hundred day simple moving average is $35.60.

PROS Company Profile

(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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