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

Fred Alger Management LLC increased its holdings in PROS Holdings, Inc. (NYSE:PRO - Free Report) by 14.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,919,116 shares of the software maker's stock after acquiring an additional 373,982 shares during the period. Fred Alger Management LLC owned about 6.18% of PROS worth $83,633,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PRO. Charles Schwab Investment Management Inc. increased its holdings in PROS by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 336,223 shares of the software maker's stock worth $13,042,000 after buying an additional 4,057 shares during the last quarter. Norges Bank bought a new position in shares of PROS during the 4th quarter valued at approximately $12,436,000. Parallel Advisors LLC increased its stake in shares of PROS by 137.6% during the 4th quarter. Parallel Advisors LLC now owns 701 shares of the software maker's stock worth $27,000 after purchasing an additional 406 shares during the last quarter. Axiom Investors LLC DE raised its holdings in shares of PROS by 243.0% in the 4th quarter. Axiom Investors LLC DE now owns 363,852 shares of the software maker's stock worth $14,114,000 after purchasing an additional 257,777 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in PROS by 12.4% in the fourth quarter. Eagle Asset Management Inc. now owns 768,290 shares of the software maker's stock valued at $29,802,000 after purchasing an additional 84,678 shares during the last quarter. 94.27% of the stock is currently owned by institutional investors.

PROS Trading Up 0.1 %

Shares of PRO stock traded up $0.01 during trading hours on Wednesday, reaching $18.62. The stock had a trading volume of 564,888 shares, compared to its average volume of 463,065. The stock's fifty day simple moving average is $20.27 and its 200 day simple moving average is $27.56. The firm has a market capitalization of $879.05 million, a PE ratio of -17.71 and a beta of 1.20. PROS Holdings, Inc. has a 12 month low of $16.64 and a 12 month high of $40.99.

PROS (NYSE:PRO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. The firm had revenue of $82.01 million during the quarter, compared to the consensus estimate of $81.38 million. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) earnings per share. As a group, equities research analysts anticipate that PROS Holdings, Inc. will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PRO has been the topic of several research reports. Oppenheimer lowered their target price on PROS from $42.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price objective on shares of PROS in a report on Monday, September 9th. KeyCorp reduced their target price on shares of PROS from $43.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. Robert W. Baird dropped their price target on shares of PROS from $45.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Finally, Craig Hallum cut their price objective on shares of PROS from $32.00 to $31.00 and set a "hold" rating for the company in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PROS currently has an average rating of "Moderate Buy" and an average price target of $34.86.

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.