PROS (NYSE:PRO) Shares Down 2.8%

PROS Holdings, Inc. (NYSE:PRO) was down 2.8% during trading on Wednesday . The stock traded as low as $17.86 and last traded at $17.88. Approximately 99,648 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 453,983 shares. The stock had previously closed at $18.40.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Oppenheimer reduced their price target on PROS from $42.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. KeyCorp reduced their price objective 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. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of PROS in a research report on Monday, September 9th. StockNews.com lowered shares of PROS from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Craig Hallum cut their target price on shares of PROS from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.86.

PROS Price Performance

The company’s 50-day simple moving average is $20.79 and its 200-day simple moving average is $28.10. The stock has a market capitalization of $906.43 million, a price-to-earnings ratio of -18.30 and a beta of 1.20.

PROS (NYSE:PRO) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $82.01 million for the quarter, compared to the consensus estimate of $81.38 million. During the same quarter in the previous year, the business earned ($0.24) EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts expect that PROS Holdings, Inc. will post -0.43 earnings per share for the current year.

Institutional Trading of PROS

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings 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 acquiring an additional 406 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in PROS during the second quarter worth $29,000. Quarry LP bought a new stake in PROS during the second quarter worth $38,000. Principal Financial Group Inc. boosted its holdings in shares of PROS by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock valued at $210,000 after purchasing an additional 484 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of PROS in the 2nd quarter valued at $210,000. 94.27% of the stock is owned by institutional investors and hedge funds.

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.