Jacobs Levy Equity Management Inc. Makes New $17.92 Million Investment in PROS Holdings, Inc. (NYSE:PRO)

Jacobs Levy Equity Management Inc. purchased a new position in shares of PROS Holdings, Inc. (NYSE:PRO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 967,673 shares of the software maker’s stock, valued at approximately $17,921,000. Jacobs Levy Equity Management Inc. owned 2.05% of PROS as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fred Alger Management LLC lifted its holdings 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 worth $83,633,000 after buying an additional 373,982 shares during the last quarter. Algert Global LLC acquired a new position in PROS in the 3rd quarter valued at about $6,713,000. Assenagon Asset Management S.A. boosted its holdings in PROS by 218.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 418,023 shares of the software maker’s stock valued at $7,742,000 after purchasing an additional 286,825 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in PROS by 3,489.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 268,362 shares of the software maker’s stock valued at $4,970,000 after purchasing an additional 260,886 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in PROS by 570.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 266,132 shares of the software maker’s stock valued at $4,929,000 after purchasing an additional 226,443 shares in the last quarter. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

PROS Trading Up 13.6 %

Shares of PROS stock opened at $25.40 on Thursday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -39.00 and a beta of 1.20. PROS Holdings, Inc. has a 1-year low of $16.64 and a 1-year high of $40.99. The firm’s 50-day moving average price is $20.56 and its two-hundred day moving average price is $22.71.

PROS (NYSE:PRO) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $82.70 million during the quarter, compared to analyst estimates of $82.32 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts predict that PROS Holdings, Inc. will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRO. Northland Securities reaffirmed an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of PROS in a research note on Wednesday, October 30th. StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Needham & Company LLC decreased their price objective on shares of PROS from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. KeyCorp decreased their price objective on shares of PROS from $36.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Craig Hallum raised shares of PROS from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROS presently has an average rating of “Buy” and a consensus price target of $31.63.

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.