KeyCorp Issues Positive Forecast for PROS (NYSE:PRO) Stock Price

PROS (NYSE:PRO) had its price objective increased by KeyCorp from $28.00 to $31.00 in a research note published on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

A number of other brokerages have also commented on PRO. Northland Securities reissued an “outperform” rating and issued a $38.00 price objective (down previously from $40.00) on shares of PROS in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of PROS in a research report on Friday. Robert W. Baird raised their price objective on PROS from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Finally, Oppenheimer downgraded PROS from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

PROS Stock Performance

Shares of PROS stock opened at $27.37 on Friday. PROS has a 1 year low of $16.64 and a 1 year high of $38.71. The business has a 50-day moving average of $23.30 and a two-hundred day moving average of $21.28.

PROS (NYSE:PRO) last announced its earnings results on Thursday, February 6th. The software maker reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.15). On average, sell-side analysts predict that PROS will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On PROS

Institutional investors and hedge funds have recently modified their holdings of the stock. RGM Capital LLC boosted its holdings in shares of PROS by 1.7% during the 3rd quarter. RGM Capital LLC now owns 3,028,677 shares of the software maker’s stock worth $56,091,000 after buying an additional 50,000 shares during the period. Rockefeller Capital Management L.P. lifted its position in PROS by 2.4% during the third quarter. Rockefeller Capital Management L.P. now owns 1,727,026 shares of the software maker’s stock worth $32,008,000 after acquiring an additional 39,846 shares during the last quarter. State Street Corp boosted its holdings in shares of PROS by 2.9% during the third quarter. State Street Corp now owns 1,167,706 shares of the software maker’s stock worth $21,626,000 after acquiring an additional 33,176 shares during the period. Tensile Capital Management LP increased its stake in shares of PROS by 373.4% during the third quarter. Tensile Capital Management LP now owns 1,161,301 shares of the software maker’s stock worth $21,507,000 after purchasing an additional 915,990 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in PROS during the 3rd quarter worth approximately $17,921,000. 94.27% of the stock is currently owned by institutional investors and hedge funds.

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.