Craig Hallum Upgrades PROS (NYSE:PRO) to “Buy”

Craig Hallum upgraded shares of PROS (NYSE:PRO) from a hold rating to a buy rating in a research note published on Wednesday, Marketbeat.com reports. They currently have $31.00 target price on the software maker’s stock.

Several other research analysts have also recently weighed in on PRO. KeyCorp decreased their price objective on shares of PROS from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Robert W. Baird reduced their target price on shares of PROS from $45.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Oppenheimer reduced their target price on shares of PROS from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of PROS in a report on Monday, September 9th. Finally, Stifel Nicolaus reduced their target price on shares of PROS from $40.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.63.

PROS Stock Up 5.8 %

PRO opened at $20.95 on Wednesday. The firm has a 50 day moving average price of $18.60 and a 200-day moving average price of $24.34. PROS has a twelve month low of $16.64 and a twelve month high of $40.99. The stock has a market capitalization of $991.14 million, a price-to-earnings ratio of -33.79 and a beta of 1.20.

PROS (NYSE:PRO) last released 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 company had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $82.32 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts expect that PROS will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On PROS

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of PROS in the first quarter worth approximately $1,291,000. Vanguard Group Inc. boosted its position in shares of PROS by 3.0% during the first quarter. Vanguard Group Inc. now owns 4,909,642 shares of the software maker’s stock worth $178,367,000 after acquiring an additional 144,729 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of PROS by 21.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 474,397 shares of the software maker’s stock worth $17,226,000 after acquiring an additional 84,591 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of PROS during the first quarter worth $775,000. Finally, RGM Capital LLC boosted its position in shares of PROS by 5.9% during the second quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock worth $85,339,000 after acquiring an additional 166,301 shares during the last quarter. 94.27% of the stock is currently owned by 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.