Oppenheimer Trims PROS (NYSE:PRO) Target Price to $27.00

PROS (NYSE:PRO) had its target price decreased by Oppenheimer from $31.00 to $27.00 in a research note released on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the software maker’s stock.

A number of other research firms have also recently weighed in on PRO. Stifel Nicolaus decreased their price objective on PROS from $40.00 to $32.00 and set a “buy” rating for the company 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 Wednesday, October 16th. KeyCorp decreased their price objective on PROS from $43.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird decreased their price objective on PROS from $45.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Bank of America decreased their price objective on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.29.

PROS Stock Up 1.4 %

NYSE:PRO traded up $0.25 during mid-day trading on Thursday, reaching $18.39. 26,741 shares of the stock were exchanged, compared to its average volume of 452,089. The company has a 50 day simple moving average of $18.52 and a 200-day simple moving average of $25.04. The stock has a market capitalization of $868.19 million, a P/E ratio of -19.72 and a beta of 1.21. PROS has a 1 year low of $16.64 and a 1 year high of $40.99.

PROS (NYSE:PRO) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $82.01 million for the quarter, compared to analysts’ expectations of $81.38 million. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.24) EPS. As a group, research analysts predict that PROS will post -0.43 EPS for the current year.

Institutional Trading of PROS

Several hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in shares of PROS by 218.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 418,023 shares of the software maker’s stock valued at $7,742,000 after buying an additional 286,825 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of PROS by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,141 shares of the software maker’s stock valued at $206,000 after buying an additional 2,393 shares during the period. Kopion Asset Management LLC raised its holdings in PROS by 60.0% during the third quarter. Kopion Asset Management LLC now owns 461,695 shares of the software maker’s stock worth $8,551,000 after purchasing an additional 173,168 shares during the last quarter. Creative Planning acquired a new position in PROS during the third quarter worth $249,000. Finally, Inspire Investing LLC raised its holdings in PROS by 82.0% during the third quarter. Inspire Investing LLC now owns 22,414 shares of the software maker’s stock worth $415,000 after purchasing an additional 10,099 shares during the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

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.