Needham & Company LLC Cuts PROS (NYSE:PRO) Price Target to $25.00

PROS (NYSE:PRO) had its price target reduced by Needham & Company LLC from $30.00 to $25.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research firms have also recently commented on PRO. KeyCorp upped their target price on shares of PROS from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Robert W. Baird decreased their price objective on shares of PROS from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. StockNews.com raised shares of PROS from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Stifel Nicolaus upped their price target on PROS from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Oppenheimer lowered PROS from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PROS presently has an average rating of “Buy” and a consensus target price of $29.13.

PROS Price Performance

PROS stock opened at $16.46 on Friday. The stock has a market cap of $786.74 million, a price-to-earnings ratio of -37.41 and a beta of 1.04. The firm has a 50 day simple moving average of $19.21 and a 200-day simple moving average of $21.73. PROS has a 1-year low of $14.81 and a 1-year high of $34.43.

PROS (NYSE:PRO) last posted its earnings results on Thursday, May 1st. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $86.32 million for the quarter, compared to analyst estimates of $85.69 million. During the same period last year, the business earned $0.04 EPS. PROS’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that PROS will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at PROS

In other news, CAO Scott William Cook sold 5,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $29.84, for a total value of $149,200.00. Following the sale, the chief accounting officer now directly owns 59,159 shares in the company, valued at approximately $1,765,304.56. This trade represents a 7.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PROS

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PROS in the 4th quarter valued at about $30,000. Ancora Advisors LLC purchased a new position in PROS in the fourth quarter worth approximately $33,000. Quadrant Capital Group LLC grew its holdings in PROS by 153.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,530 shares of the software maker’s stock worth $34,000 after acquiring an additional 926 shares in the last quarter. Comerica Bank increased its position in shares of PROS by 264.5% in the 4th quarter. Comerica Bank now owns 1,571 shares of the software maker’s stock valued at $34,000 after purchasing an additional 1,140 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of PROS by 2,716.9% in the 1st quarter. GAMMA Investing LLC now owns 2,169 shares of the software maker’s stock valued at $41,000 after purchasing an additional 2,092 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.