PROS (NYSE:PRO) Shares Down 2.6% – Here’s What Happened

Shares of PROS Holdings, Inc. (NYSE:PRO) were down 2.6% during mid-day 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.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRO shares. Wall Street Zen downgraded shares of PROS from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 7th. Baird R W downgraded shares of PROS from a “strong-buy” rating to a “hold” rating in a report on Monday. Robert W. Baird lowered shares of PROS from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $18.00 in a research note on Monday. KeyCorp lowered their target price on shares of PROS from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Northland Securities set a $38.00 target price on shares of PROS in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, PROS presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

PROS Trading Down 1.5%

The stock has a market capitalization of $685.74 million, a P/E ratio of -51.18 and a beta of 1.03. The firm’s fifty day moving average is $17.23 and its 200-day moving average is $20.80.

PROS (NYSE:PRO) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $86.32 million for the quarter, compared to analyst estimates of $85.69 million. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. Equities research analysts expect that PROS Holdings, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PRO. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PROS in the 4th quarter valued at about $30,000. Ancora Advisors LLC bought a new position in shares of PROS in the 4th quarter valued at about $33,000. Quadrant Capital Group LLC grew its position in shares of PROS by 153.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,530 shares of the software maker’s stock valued at $34,000 after acquiring an additional 926 shares during the period. Comerica Bank grew its position in shares of PROS by 264.5% in the 4th quarter. Comerica Bank now owns 1,571 shares of the software maker’s stock valued at $34,000 after acquiring an additional 1,140 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of PROS by 2,716.9% in the 1st quarter. GAMMA Investing LLC now owns 2,169 shares of the software maker’s stock valued at $41,000 after acquiring an additional 2,092 shares during the period. Institutional investors own 94.27% of the company’s stock.

PROS Company 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.