Needham Investment Management LLC Acquires Shares of 80,000 PROS Holdings, Inc. (NYSE:PRO)

Needham Investment Management LLC purchased a new stake in shares of PROS Holdings, Inc. (NYSE:PRO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 80,000 shares of the software maker's stock, valued at approximately $1,757,000. Needham Investment Management LLC owned approximately 0.17% of PROS at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRO. Alyeska Investment Group L.P. boosted its position in 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 buying an additional 1,345,256 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of PROS by 570.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 397,424 shares of the software maker's stock worth $7,360,000 after purchasing an additional 338,158 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of PROS in the 4th quarter worth $6,447,000. Barclays PLC boosted its position in shares of PROS by 345.4% in the 3rd 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. Finally, Vanguard Group Inc. boosted its position in shares of PROS by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 5,670,130 shares of the software maker's stock worth $124,516,000 after purchasing an additional 172,997 shares during the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reduced their target price on PROS from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. StockNews.com lowered PROS from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus dropped their price target on PROS from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. KeyCorp dropped their price target on PROS from $31.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Robert W. Baird dropped their price target on PROS from $30.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, PROS currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.13.

PROS Stock Performance

PRO traded down $0.22 on Friday, hitting $18.44. 534,546 shares of the company were exchanged, compared to its average volume of 542,476. PROS Holdings, Inc. has a 12 month low of $14.81 and a 12 month high of $32.87. The company has a market cap of $882.15 million, a PE ratio of -41.90 and a beta of 1.06. The stock's fifty day moving average is $18.01 and its 200-day moving average is $21.65.

PROS (NYSE:PRO - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $86.32 million for the quarter, compared to the consensus estimate of $85.69 million. During the same quarter in the previous year, the company posted $0.04 EPS. The business's revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts expect 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.