Bank of America Trims PROS (NYSE:PRO) Target Price to $39.00

PROS (NYSE:PRO) had its price target cut by Bank of America from $43.00 to $39.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other equities analysts also recently weighed in on PRO. Robert W. Baird cut their price target on shares of PROS from $45.00 to $35.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 target price on shares of PROS in a research report on Wednesday, July 31st. StockNews.com raised PROS from a hold rating to a buy rating in a research report on Monday, August 5th. Stifel Nicolaus dropped their price target on PROS from $40.00 to $32.00 and set a buy rating for the company in a research note on Wednesday, July 31st. Finally, Oppenheimer reduced their price objective on PROS from $42.00 to $31.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PROS currently has a consensus rating of Moderate Buy and an average price target of $34.86.

PROS Stock Up 5.1 %

Shares of NYSE:PRO opened at $20.01 on Tuesday. The company has a market cap of $940.55 million, a P/E ratio of -19.06 and a beta of 1.21. The business has a fifty day simple moving average of $23.34 and a 200-day simple moving average of $29.85. PROS has a 52 week low of $18.66 and a 52 week high of $40.99.

PROS (NYSE:PRO) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $82.01 million during the quarter, compared to analysts’ expectations of $81.38 million. During the same quarter last year, the firm earned ($0.24) EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that PROS will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of PROS during the 1st quarter valued at about $1,291,000. Vanguard Group Inc. lifted its position in shares of PROS by 3.0% during the first quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock worth $178,367,000 after purchasing an additional 144,729 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of PROS by 21.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 474,397 shares of the software maker’s stock valued at $17,226,000 after purchasing an additional 84,591 shares during the period. Eagle Asset Management Inc. grew its holdings in PROS by 12.4% during the 4th quarter. Eagle Asset Management Inc. now owns 768,290 shares of the software maker’s stock valued at $29,802,000 after purchasing an additional 84,678 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in PROS during the 1st quarter worth $775,000. Institutional investors and hedge funds 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.