PROS (NYSE:PRO) Rating Lowered to Hold at Craig Hallum

Craig Hallum downgraded shares of PROS (NYSE:PRO) from a buy rating to a hold rating in a research report released on Tuesday, MarketBeat Ratings reports. They currently have $32.00 target price on the software maker’s stock, down from their prior target price of $40.00.

Separately, Needham & Company LLC reaffirmed a buy rating and issued a $40.00 target price on shares of PROS in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $40.50.

PROS Stock Performance

Shares of PRO opened at $25.02 on Tuesday. PROS has a 12-month low of $23.51 and a 12-month high of $40.99. The company’s 50-day moving average price is $28.90 and its 200 day moving average price is $33.20.

PROS (NYSE:PRO) last issued its quarterly earnings data on Tuesday, May 7th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $80.69 million during the quarter, compared to analysts’ expectations of $79.84 million. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) earnings per share. On average, analysts forecast that PROS will post -0.5 earnings per share for the current fiscal year.

Insider Transactions at PROS

In other news, CFO Stefan B. Schulz sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total transaction of $186,180.00. Following the completion of the transaction, the chief financial officer now directly owns 258,327 shares of the company’s stock, valued at $8,015,886.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Stefan B. Schulz sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total transaction of $186,180.00. Following the completion of the transaction, the chief financial officer now directly owns 258,327 shares of the company’s stock, valued at $8,015,886.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leland Jourdan sold 2,162 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $31.03, for a total value of $67,086.86. Following the transaction, the director now directly owns 13,313 shares of the company’s stock, valued at $413,102.39. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On PROS

Institutional investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. lifted its stake in PROS by 12.4% during the fourth quarter. Eagle Asset Management Inc. now owns 768,290 shares of the software maker’s stock worth $29,802,000 after purchasing an additional 84,678 shares during the last quarter. Comerica Bank purchased a new stake in PROS during the third quarter worth approximately $8,123,000. Ghisallo Capital Management LLC purchased a new stake in PROS during the fourth quarter worth approximately $1,831,000. Allspring Global Investments Holdings LLC lifted its stake in PROS by 82.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 128,453 shares of the software maker’s stock worth $4,667,000 after purchasing an additional 57,945 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in PROS by 3.8% during the third quarter. Vanguard Group Inc. now owns 4,810,501 shares of the software maker’s stock worth $166,540,000 after purchasing an additional 174,661 shares during the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.

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.