Federated Hermes Inc. Buys Shares of 20,132 PROS Holdings, Inc. (NYSE:PRO)

Key Points

• Federated Hermes Inc. acquired 20,132 shares of PROS Holdings, Inc. valued at approximately $383,000 in the first quarter, indicating growing interest from institutional investors.
• Analysts have recently revised their price targets for PROS shares, with estimates ranging from $18.00 to $38.00, reflecting a range of bullish and bearish sentiments within the market.
• PROS reported a quarterly earnings per share (EPS) of $0.13, surpassing estimates, and saw an 8.2% year-over-year revenue increase to $88.72 million.

Federated Hermes Inc. purchased a new position in shares of PROS Holdings, Inc. (NYSE:PRO - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 20,132 shares of the software maker's stock, valued at approximately $383,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its stake in shares of PROS by 334.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,748,055 shares of the software maker's stock valued at $38,387,000 after acquiring an additional 1,345,256 shares in the last quarter. Nuveen Asset Management LLC increased its position 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 buying an additional 1,069,141 shares during the period. Deutsche Bank AG increased its position in PROS by 21.5% in the 4th quarter. Deutsche Bank AG now owns 791,707 shares of the software maker's stock worth $17,386,000 after buying an additional 140,210 shares during the period. Northern Trust Corp increased its position in PROS by 7.9% in the 4th quarter. Northern Trust Corp now owns 448,234 shares of the software maker's stock worth $9,843,000 after buying an additional 32,980 shares during the period. Finally, Nomura Holdings Inc. increased its position in PROS by 12.6% in the 4th quarter. Nomura Holdings Inc. now owns 414,523 shares of the software maker's stock worth $9,103,000 after buying an additional 46,372 shares during the period. 94.27% of the stock is owned by hedge funds and other institutional investors.

PROS Trading Up 1.7%

PRO stock traded up $0.24 during trading on Tuesday, hitting $14.34. 828,124 shares of the stock traded hands, compared to its average volume of 1,078,002. PROS Holdings, Inc. has a one year low of $13.61 and a one year high of $29.84. The stock has a market cap of $690.09 million, a price-to-earnings ratio of -65.20 and a beta of 1.08. The company has a 50 day simple moving average of $15.93 and a 200 day simple moving average of $18.82.

PROS (NYSE:PRO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The software maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $88.72 million for the quarter, compared to the consensus estimate of $87.70 million. During the same period in the prior year, the business earned $0.07 earnings per share. The company's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts predict that PROS Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRO has been the topic of several recent analyst reports. Robert W. Baird downgraded PROS from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $27.00 to $18.00 in a research report on Monday, June 16th. KeyCorp dropped their price target on PROS from $31.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Baird R W lowered PROS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 16th. Northland Securities set a $38.00 price objective on PROS in a research report on Wednesday, May 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $25.00 price objective on shares of PROS in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.50.

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.