PROS (NYSE:PRO) Price Target Cut to $35.00

PROS (NYSE:PRO) had its price objective decreased by research analysts at Robert W. Baird from $45.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target indicates a potential upside of 48.81% from the stock’s current price.

PRO has been the topic of several other reports. Oppenheimer cut their target price on shares of PROS from $42.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of PROS in a report on Wednesday. Finally, Craig Hallum lowered their price target on shares of PROS from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, PROS presently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

PROS Stock Performance

Shares of PRO traded down $1.95 during mid-day trading on Wednesday, reaching $23.52. The company had a trading volume of 443,644 shares, compared to its average volume of 348,113. The company’s 50 day simple moving average is $27.34 and its 200 day simple moving average is $32.20. PROS has a 1-year low of $23.29 and a 1-year high of $40.99. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -22.40 and a beta of 1.21.

PROS (NYSE:PRO) last posted its quarterly earnings results on Tuesday, May 7th. The software maker reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $80.69 million during the quarter, compared to analyst estimates of $79.84 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that PROS will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at PROS

In other PROS news, 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 completion of the sale, the director now owns 13,313 shares in the company, valued at approximately $413,102.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PROS 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 directly owns 258,327 shares of the company’s stock, valued at approximately $8,015,886.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $67,086.86. Following the completion of the transaction, the director now directly owns 13,313 shares in the company, valued at $413,102.39. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PROS

A number of hedge funds and other institutional investors have recently made changes to their positions in PRO. Parallel Advisors LLC boosted its holdings in shares of PROS by 137.6% in the 4th quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock worth $27,000 after buying an additional 406 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of PROS by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock worth $210,000 after buying an additional 484 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of PROS in the 2nd quarter worth about $210,000. Lindenwold Advisors INC purchased a new position in shares of PROS in the 4th quarter worth about $216,000. Finally, Victory Capital Management Inc. purchased a new position in shares of PROS in the 4th quarter worth about $218,000. 94.27% of the stock is owned by hedge funds and other institutional investors.

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.