Needham & Company LLC Reaffirms “Buy” Rating for PROS (NYSE:PRO)

PROS (NYSE:PRO)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They currently have a $40.00 price target on the software maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 30.38% from the stock’s previous close.

PROS Price Performance

Shares of NYSE PRO opened at $30.68 on Thursday. The stock has a fifty day moving average price of $34.08 and a 200 day moving average price of $35.55. PROS has a 1-year low of $27.56 and a 1-year high of $40.99. The company has a market cap of $1.44 billion, a PE ratio of -29.22 and a beta of 1.18.

PROS (NYSE:PRO) last issued its quarterly earnings results on Tuesday, May 7th. The software maker reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $80.69 million for the quarter, compared to analyst estimates of $79.84 million. During the same period in the prior year, the business earned ($0.28) earnings per share. PROS’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that PROS will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Stefan B. Schulz sold 6,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.92, for a total value of $215,520.00. Following the sale, the chief financial officer now directly owns 260,223 shares in the company, valued at approximately $9,347,210.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 completion of the transaction, the chief financial officer now owns 260,223 shares of the company’s stock, valued at approximately $9,347,210.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Leland Jourdan sold 2,162 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $31.03, for a total transaction of $67,086.86. Following the transaction, the director now directly owns 13,313 shares of the company’s stock, valued at approximately $413,102.39. The disclosure for this sale can be found here. Insiders have sold 14,162 shares of company stock worth $468,787 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PROS

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in PROS by 94.2% in the third quarter. FMR LLC now owns 2,561,817 shares of the software maker’s stock worth $88,690,000 after buying an additional 1,242,334 shares during the period. Deutsche Bank AG increased its position in PROS by 116.0% in the third quarter. Deutsche Bank AG now owns 804,051 shares of the software maker’s stock worth $27,836,000 after buying an additional 431,793 shares during the period. Cadian Capital Management LP acquired a new stake in PROS in the third quarter worth $13,405,000. Norges Bank acquired a new stake in PROS in the fourth quarter worth $12,436,000. Finally, Brown Advisory Inc. increased its position in PROS by 11.4% in the fourth quarter. Brown Advisory Inc. now owns 2,814,405 shares of the software maker’s stock worth $109,171,000 after buying an additional 287,338 shares during the period. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

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.