PROS (NYSE:PRO) Downgraded to Market Perform Rating by Oppenheimer

Oppenheimer lowered shares of PROS (NYSE:PRO) from an outperform rating to a market perform rating in a research note released on Thursday, Marketbeat.com reports.

Several other research firms also recently issued reports on PRO. Robert W. Baird raised their price target on shares of PROS from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Craig Hallum raised shares of PROS from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Wednesday, October 30th. Needham & Company LLC dropped their price target on shares of PROS from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. KeyCorp lowered their target price on shares of PROS from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Northland Securities reissued an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of PROS in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.88.

PROS Trading Down 2.6 %

NYSE PRO opened at $21.67 on Thursday. The firm’s 50 day simple moving average is $22.92 and its 200 day simple moving average is $21.41. PROS has a 1 year low of $16.64 and a 1 year high of $38.71.

PROS (NYSE:PRO) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $82.70 million during the quarter, compared to the consensus estimate of $82.32 million. PROS’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS. Analysts anticipate that PROS will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On PROS

A number of large investors have recently bought and sold shares of PRO. Hennion & Walsh Asset Management Inc. grew its holdings in shares of PROS by 28.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 14,289 shares of the software maker’s stock valued at $314,000 after buying an additional 3,148 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of PROS by 570.6% in the third quarter. JPMorgan Chase & Co. now owns 397,424 shares of the software maker’s stock valued at $7,360,000 after purchasing an additional 338,158 shares during the period. Barclays PLC raised its position in shares of PROS by 345.4% in the third quarter. Barclays PLC now owns 238,382 shares of the software maker’s stock valued at $4,415,000 after purchasing an additional 184,856 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of PROS in the third quarter valued at approximately $694,000. Finally, K2 Principal Fund L.P. grew its stake in PROS by 29.5% during the third quarter. K2 Principal Fund L.P. now owns 68,000 shares of the software maker’s stock valued at $1,259,000 after acquiring an additional 15,482 shares in the last quarter. 94.27% of the stock is currently owned by institutional investors and hedge funds.

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.