Millrace Asset Group Inc. Sells 49,191 Shares of PROS Holdings, Inc. (NYSE:PRO)

Millrace Asset Group Inc. cut its stake in shares of PROS Holdings, Inc. (NYSE:PRO - Free Report) by 88.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,364 shares of the software maker's stock after selling 49,191 shares during the period. Millrace Asset Group Inc.'s holdings in PROS were worth $118,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PROS by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,088 shares of the software maker's stock worth $289,000 after acquiring an additional 916 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in PROS during the second quarter valued at approximately $29,000. Quarry LP acquired a new stake in PROS in the second quarter valued at approximately $38,000. Price T Rowe Associates Inc. MD grew its position in PROS by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,167 shares of the software maker's stock worth $1,096,000 after acquiring an additional 1,632 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of PROS by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,456 shares of the software maker's stock worth $672,000 after purchasing an additional 1,646 shares during the last quarter. Institutional investors and hedge funds own 94.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRO. Craig Hallum upgraded shares of PROS from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a report on Wednesday, October 30th. Northland Securities reissued an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Oppenheimer decreased their target price on PROS from $31.00 to $27.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reduced their price objective on shares of PROS from $40.00 to $30.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, KeyCorp cut their target price on shares of PROS from $36.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $31.63.

PROS Stock Down 4.4 %

Shares of PRO stock traded down $1.05 during mid-day trading on Tuesday, reaching $23.00. The stock had a trading volume of 294,162 shares, compared to its average volume of 468,585. The firm has a market cap of $1.09 billion, a PE ratio of -36.85 and a beta of 1.20. PROS Holdings, Inc. has a one year low of $16.64 and a one year high of $40.99. The firm's 50 day simple moving average is $20.00 and its 200 day simple moving average is $23.04.

PROS (NYSE:PRO - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. The business had revenue of $82.70 million for the quarter, compared to analyst estimates of $82.32 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The firm's quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts forecast that PROS Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

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.