Fred Alger Management LLC Sells 500,938 Shares of PROS Holdings, Inc. $PRO

Key Points

• Fred Alger Management LLC reduced its position in PROS Holdings, Inc. by 22.7%, now holding 1,706,846 shares valued at approximately $32.48 million.
• Despite some hedge funds reducing their positions, others, like Comerica Bank and GAMMA Investing LLC, significantly increased their holdings in PROS, showcasing mixed investor sentiment.
• PROS recently reported $0.13 earnings per share, surpassing expectations, with a revenue increase of 8.2% year-over-year.

Fred Alger Management LLC lessened its stake in PROS Holdings, Inc. (NYSE:PRO - Free Report) by 22.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,706,846 shares of the software maker's stock after selling 500,938 shares during the quarter. Fred Alger Management LLC owned approximately 3.57% of PROS worth $32,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nuveen LLC purchased a new stake in PROS in the first quarter worth $23,893,000. Nuveen Asset Management LLC increased its position in PROS by 340.3% in the fourth 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 last quarter. EVR Research LP increased its position in PROS by 939.7% in the first quarter. EVR Research LP now owns 727,822 shares of the software maker's stock worth $13,850,000 after buying an additional 657,822 shares during the last quarter. Vanguard Group Inc. increased its position in PROS by 3.1% in the first quarter. Vanguard Group Inc. now owns 5,847,056 shares of the software maker's stock worth $111,269,000 after buying an additional 176,926 shares during the last quarter. Finally, Trexquant Investment LP increased its position in PROS by 224.9% in the first quarter. Trexquant Investment LP now owns 251,910 shares of the software maker's stock worth $4,794,000 after buying an additional 174,369 shares during the last quarter. 94.27% of the stock is owned by hedge funds and other institutional investors.

PROS Stock Down 2.9%

NYSE:PRO traded down $0.44 during trading hours on Wednesday, hitting $15.13. 637,765 shares of the company's stock traded hands, compared to its average volume of 683,605. The firm has a market cap of $727.71 million, a P/E ratio of -68.75 and a beta of 1.02. PROS Holdings, Inc. has a 52 week low of $13.61 and a 52 week high of $29.84. The business's fifty day simple moving average is $15.43 and its two-hundred day simple moving average is $17.33.

PROS (NYSE:PRO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $88.72 million for the quarter, compared to the consensus estimate of $87.70 million. PROS's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. PROS has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.150-0.17 EPS. On average, analysts expect that PROS Holdings, Inc. will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRO. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price target on shares of PROS in a research report on Thursday, June 12th. Northland Securities set a $38.00 price target on PROS in a research report on Wednesday, May 28th. Baird R W cut PROS from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 16th. Robert W. Baird cut PROS from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $27.00 to $18.00 in a research report on Monday, June 16th. Finally, Wall Street Zen upgraded PROS from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.86.

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.