PROS (NYSE:PRO) Trading Down 7% - Here's Why

PROS Holdings, Inc. (NYSE:PRO - Get Free Report)'s share price dropped 7% on Friday . The company traded as low as $22.76 and last traded at $22.39. Approximately 60,463 shares changed hands during trading, a decline of 85% from the average daily volume of 415,986 shares. The stock had previously closed at $24.07.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PRO shares. Robert W. Baird lifted their target price on PROS from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Oppenheimer cut PROS from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 16th. KeyCorp upped their target price on shares of PROS from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 target price on shares of PROS in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of PROS from a "hold" rating to a "buy" rating in a report on Saturday, November 16th. 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

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PROS Trading Down 3.0 %

The firm's fifty day moving average price is $24.11 and its 200-day moving average price is $21.87. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -48.23 and a beta of 1.14.

PROS (NYSE:PRO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.15). On average, sell-side analysts expect that PROS Holdings, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at PROS

In other PROS news, CAO Scott William Cook sold 5,000 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $29.84, for a total value of $149,200.00. Following the transaction, the chief accounting officer now directly owns 59,159 shares of the company's stock, valued at approximately $1,765,304.56. The trade was a 7.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On PROS

Hedge funds have recently added to or reduced their stakes in the company. PharVision Advisers LLC acquired a new position in shares of PROS during the 4th quarter worth $540,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in PROS by 14.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 114,987 shares of the software maker's stock valued at $2,525,000 after buying an additional 14,216 shares in the last quarter. State of Wyoming lifted its position in shares of PROS by 226.5% during the 4th quarter. State of Wyoming now owns 6,850 shares of the software maker's stock valued at $150,000 after acquiring an additional 4,752 shares during the period. SG Capital Management LLC purchased a new stake in shares of PROS during the 4th quarter worth approximately $2,144,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PROS in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds 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.