PROS (NYSE:PRO) Price Target Lowered to $31.00 at Oppenheimer

PROS (NYSE:PRO) had its price objective reduced by Oppenheimer from $42.00 to $31.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Several other equities research analysts have also recently commented on PRO. Needham & Company LLC reaffirmed a buy rating and set a $40.00 price objective on shares of PROS in a research report on Wednesday. Craig Hallum lowered shares of PROS from a buy rating to a hold rating and reduced their price target for the stock from $40.00 to $32.00 in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $34.17.

PROS Stock Down 3.9 %

PROS stock opened at $22.64 on Wednesday. PROS has a twelve month low of $21.88 and a twelve month high of $40.99. The company has a market capitalization of $1.07 billion, a P/E ratio of -21.56 and a beta of 1.21. The stock’s 50 day moving average is $26.89 and its 200 day moving average is $31.98.

PROS (NYSE:PRO) last released its earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $82.01 million during the quarter, compared to analysts’ expectations of $81.38 million. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.24) earnings per share. As a group, equities analysts expect that PROS will post -0.5 EPS for the current year.

Insider Activity

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

Institutional Trading of PROS

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kings Path Partners LLC purchased a new position in shares of PROS during the 2nd quarter valued at $392,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PROS by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker’s stock valued at $289,000 after acquiring an additional 916 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of PROS in the second quarter valued at about $251,000. Raymond James & Associates boosted its stake in shares of PROS by 14.8% in the second quarter. Raymond James & Associates now owns 138,159 shares of the software maker’s stock worth $3,958,000 after acquiring an additional 17,792 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of PROS by 9.7% during the second quarter. Assenagon Asset Management S.A. now owns 131,198 shares of the software maker’s stock worth $3,759,000 after purchasing an additional 11,594 shares in the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.

PROS Company Profile

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.