PROS (NYSE:PRO) Trading Down 4.7% Following Analyst Downgrade

PROS Holdings, Inc. (NYSE:PRO) traded down 4.7% during trading on Friday after KeyCorp lowered their price target on the stock from $31.00 to $22.00. KeyCorp currently has an overweight rating on the stock. PROS traded as low as $16.12 and last traded at $16.06. 430,736 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 526,560 shares. The stock had previously closed at $16.85.

A number of other research firms have also commented on PRO. Robert W. Baird cut their price objective on shares of PROS from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC cut their price target on shares of PROS from $30.00 to $25.00 and set a “buy” rating for the company in a report on Friday. Stifel Nicolaus decreased their price target on shares of PROS from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com raised PROS from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Oppenheimer lowered PROS from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $29.13.

Insiders Place Their Bets

In other news, CAO Scott William Cook sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $29.84, for a total value of $149,200.00. Following the completion of the sale, the chief accounting officer now directly owns 59,159 shares in the company, valued at approximately $1,765,304.56. The trade was a 7.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On PROS

Large investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. grew its stake in shares of PROS by 334.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,748,055 shares of the software maker’s stock valued at $38,387,000 after buying an additional 1,345,256 shares during the last quarter. Nuveen Asset Management LLC increased its stake in PROS by 340.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,383,315 shares of the software maker’s stock worth $30,378,000 after purchasing an additional 1,069,141 shares during the period. JPMorgan Chase & Co. lifted its position in PROS by 570.6% in the third quarter. JPMorgan Chase & Co. now owns 397,424 shares of the software maker’s stock valued at $7,360,000 after purchasing an additional 338,158 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of PROS during the fourth quarter valued at approximately $6,447,000. Finally, Barclays PLC grew its holdings in shares of PROS by 345.4% in the third quarter. Barclays PLC now owns 238,382 shares of the software maker’s stock worth $4,415,000 after purchasing an additional 184,856 shares during the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.

PROS Price Performance

The company has a market capitalization of $786.74 million, a PE ratio of -37.41 and a beta of 1.04. The firm’s 50 day moving average is $19.21 and its 200 day moving average is $21.73.

PROS (NYSE:PRO) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $86.32 million for the quarter, compared to the consensus estimate of $85.69 million. During the same period last year, the company posted $0.04 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that PROS Holdings, Inc. will post -0.2 EPS for the current fiscal year.

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.