StockNews.com Downgrades PROS (NYSE:PRO) to Buy

StockNews.com lowered shares of PROS (NYSE:PRO - Free Report) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.

A number of other equities analysts have also issued reports on the company. KeyCorp reduced their target price on PROS from $31.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Stifel Nicolaus decreased their target price on PROS from $30.00 to $24.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Needham & Company LLC cut their price target on shares of PROS from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Oppenheimer downgraded shares of PROS from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird cut their price target on PROS from $30.00 to $27.00 and set an "outperform" rating on the stock in a research report 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.13.

PROS Trading Up 0.3 %

Shares of PRO traded up $0.05 during midday trading on Wednesday, hitting $16.92. 391,503 shares of the company's stock traded hands, compared to its average volume of 535,583. The stock has a market capitalization of $809.66 million, a price-to-earnings ratio of -38.45 and a beta of 1.06. PROS has a 1 year low of $14.81 and a 1 year high of $32.87. The firm's fifty day moving average is $18.46 and its 200-day moving average is $21.65.

PROS (NYSE:PRO - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $86.32 million during the quarter, compared to analysts' expectations of $85.69 million. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. On average, equities research analysts anticipate that PROS will post -0.2 EPS for the current year.

Institutional Investors Weigh In On PROS

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

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.