PROS (NYSE:PRO) Cut to "Hold" at StockNews.com

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

Several other research analysts have also commented on the company. KeyCorp lowered their price target on PROS from $36.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Needham & Company LLC dropped their target price on PROS from $40.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Northland Securities reiterated an "outperform" rating and set a $38.00 price target (down from $40.00) on shares of PROS in a research note on Wednesday, October 30th. Robert W. Baird lowered their price objective on shares of PROS from $35.00 to $28.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Craig Hallum raised shares of PROS from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.63.

PROS Price Performance

Shares of NYSE:PRO traded down $0.78 during midday trading on Friday, reaching $22.48. 587,159 shares of the company's stock were exchanged, compared to its average volume of 465,321. The firm's 50 day simple moving average is $18.87 and its two-hundred day simple moving average is $23.95. PROS has a fifty-two week low of $16.64 and a fifty-two week high of $40.99. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -36.26 and a beta of 1.20.

PROS (NYSE:PRO - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $82.70 million during the quarter, compared to analysts' expectations of $82.32 million. PROS's revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. Equities research analysts predict that PROS will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PROS

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PROS during the second quarter worth approximately $29,000. Quarry LP purchased a new stake in shares of PROS during the 2nd quarter worth approximately $38,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of PROS by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,141 shares of the software maker's stock valued at $206,000 after buying an additional 2,393 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of PROS in the 2nd quarter valued at $210,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of PROS by 29.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,917 shares of the software maker's stock valued at $221,000 after buying an additional 2,700 shares during the last quarter. 94.27% of the stock is currently owned by institutional investors and hedge funds.

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.