PROS (NYSE:PRO) Shares Down 2.6% - Here's Why

PROS Holdings, Inc. (NYSE:PRO - Get Free Report) shares were down 2.6% during trading on Wednesday . The company traded as low as $14.16 and last traded at $14.18. Approximately 74,835 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 574,696 shares. The stock had previously closed at $14.55.

Analysts Set New Price Targets

PRO has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of PROS from $30.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Robert W. Baird lowered PROS from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $27.00 to $18.00 in a research report on Monday, June 16th. KeyCorp reduced their price objective on PROS from $31.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of PROS in a research report on Thursday, June 12th. Finally, Northland Securities set a $38.00 price objective on PROS in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

PROS Stock Performance

The stock has a market cap of $670.07 million, a P/E ratio of -50.01 and a beta of 1.03. The business's 50-day moving average price is $17.18 and its 200-day moving average price is $20.74.

PROS (NYSE:PRO - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $0.13 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the firm posted $0.04 EPS. The business's revenue for the quarter 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 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in PROS by 5.5% in the 1st quarter. Rhumbline Advisers now owns 67,009 shares of the software maker's stock worth $1,275,000 after purchasing an additional 3,472 shares in the last quarter. Acadian Asset Management LLC increased its stake in PROS by 36.3% in the 1st quarter. Acadian Asset Management LLC now owns 312,513 shares of the software maker's stock worth $5,937,000 after acquiring an additional 83,274 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PROS by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 120,572 shares of the software maker's stock worth $2,294,000 after acquiring an additional 5,585 shares during the last quarter. Woodline Partners LP bought a new stake in PROS in the 1st quarter worth approximately $282,000. Finally, Goldman Sachs Group Inc. increased its stake in PROS by 18.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 750,616 shares of the software maker's stock worth $14,284,000 after acquiring an additional 118,882 shares during the last quarter. 94.27% of the stock is owned by hedge funds and other institutional investors.

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.