PROS (NYSE:PRO) Given New $30.00 Price Target at Needham & Company LLC

PROS (NYSE:PRO) had its target price cut by Needham & Company LLC from $40.00 to $30.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other research firms also recently issued reports on PRO. Robert W. Baird lowered their price objective on PROS from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered their price objective on PROS from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Bank of America lowered their price objective on PROS from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. StockNews.com raised PROS from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer lowered their price objective on PROS from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.63.

PROS Trading Up 7.6 %

Shares of NYSE PRO opened at $20.86 on Wednesday. The company has a market cap of $984.80 million, a price-to-earnings ratio of -22.67 and a beta of 1.21. PROS has a 12 month low of $16.64 and a 12 month high of $40.99. The stock has a 50-day moving average price of $18.54 and a two-hundred day moving average price of $24.47.

PROS (NYSE:PRO) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $82.01 million for the quarter, compared to analyst estimates of $81.38 million. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) EPS. On average, sell-side analysts predict that PROS will post -0.43 earnings per share for the current year.

Institutional Trading of PROS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRO. Fred Alger Management LLC increased its position in PROS by 14.7% during the 2nd quarter. Fred Alger Management LLC now owns 2,919,116 shares of the software maker’s stock valued at $83,633,000 after purchasing an additional 373,982 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of PROS by 218.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 418,023 shares of the software maker’s stock worth $7,742,000 after buying an additional 286,825 shares in the last quarter. Kopion Asset Management LLC boosted its holdings in shares of PROS by 60.0% during the 3rd quarter. Kopion Asset Management LLC now owns 461,695 shares of the software maker’s stock worth $8,551,000 after buying an additional 173,168 shares in the last quarter. RGM Capital LLC boosted its holdings in shares of PROS by 5.9% during the 2nd quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock worth $85,339,000 after buying an additional 166,301 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of PROS by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock worth $178,367,000 after buying an additional 144,729 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.

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.