Fred Alger Management LLC Lowers Holdings in PROS Holdings, Inc. (NYSE:PRO)

Fred Alger Management LLC lowered its holdings in shares of PROS Holdings, Inc. (NYSE:PRO - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,207,784 shares of the software maker's stock after selling 314,718 shares during the period. Fred Alger Management LLC owned about 4.67% of PROS worth $48,483,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRO. Quadrant Capital Group LLC raised its position in PROS by 153.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,530 shares of the software maker's stock valued at $34,000 after purchasing an additional 926 shares during the last quarter. Franklin Resources Inc. grew its position in shares of PROS by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 33,852 shares of the software maker's stock worth $743,000 after buying an additional 1,080 shares during the period. Comerica Bank increased its stake in shares of PROS by 264.5% during the fourth quarter. Comerica Bank now owns 1,571 shares of the software maker's stock valued at $34,000 after purchasing an additional 1,140 shares in the last quarter. Swiss National Bank raised its stake in PROS by 1.7% during the fourth quarter. Swiss National Bank now owns 78,900 shares of the software maker's stock valued at $1,733,000 after buying an additional 1,300 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in PROS by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 27,978 shares of the software maker's stock worth $614,000 after purchasing an additional 1,438 shares in the last quarter. 94.27% of the stock is owned by institutional investors.

PROS Stock Up 0.3 %

PROS stock traded up $0.05 during mid-day trading on Friday, reaching $16.92. 391,503 shares of the company's stock traded hands, compared to its average volume of 536,812. PROS Holdings, Inc. has a 12-month low of $14.81 and a 12-month high of $32.87. The stock has a 50 day moving average of $18.46 and a two-hundred day moving average of $21.68. The company has a market cap of $809.66 million, a price-to-earnings ratio of -38.45 and a beta of 1.06.

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 firm had revenue of $86.32 million during the quarter, compared to the consensus estimate of $85.69 million. PROS's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. As a group, sell-side analysts forecast that PROS Holdings, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRO shares. StockNews.com lowered PROS from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Oppenheimer lowered shares of PROS from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 16th. KeyCorp lowered their target price on PROS from $31.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC lowered their price objective on PROS from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Robert W. Baird decreased their target price 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 research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.13.

PROS 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.