PROS’s (PRO) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of PROS (NYSE:PRO) in a research report sent to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $40.00 price target on the software maker’s stock.

Separately, KeyCorp raised PROS from a sector weight rating to an overweight rating and set a $43.00 price objective on the stock in a report on Friday, January 12th.

PROS Price Performance

PROS stock opened at $30.58 on Wednesday. The business has a 50 day simple moving average of $35.03 and a 200-day simple moving average of $35.69. PROS has a 12 month low of $24.61 and a 12 month high of $40.99. The stock has a market capitalization of $1.44 billion, a PE ratio of -25.07 and a beta of 1.18.

PROS (NYSE:PRO) last released its earnings results on Tuesday, May 7th. The software maker reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $80.69 million during the quarter, compared to analyst estimates of $79.84 million. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.28) EPS. As a group, equities research analysts anticipate that PROS will post -0.54 EPS for the current year.

Insiders Place Their Bets

In other PROS news, CFO Stefan B. Schulz sold 6,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.92, for a total transaction of $215,520.00. Following the transaction, the chief financial officer now directly owns 260,223 shares in the company, valued at $9,347,210.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On PROS

Several institutional investors have recently modified their holdings of the company. Sheets Smith Wealth Management increased its stake in PROS by 4.8% in the 4th quarter. Sheets Smith Wealth Management now owns 7,095 shares of the software maker’s stock valued at $275,000 after purchasing an additional 325 shares in the last quarter. Parallel Advisors LLC increased its position in shares of PROS by 137.6% in the fourth quarter. Parallel Advisors LLC now owns 701 shares of the software maker’s stock valued at $27,000 after buying an additional 406 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of PROS by 9.1% during the 1st quarter. Principal Financial Group Inc. now owns 5,779 shares of the software maker’s stock worth $210,000 after buying an additional 484 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of PROS by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,035 shares of the software maker’s stock worth $292,000 after buying an additional 632 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PROS by 12.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,172 shares of the software maker’s stock worth $356,000 after buying an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors 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.