PROS (NYSE:PRO) Stock Price Down 7% – Here’s Why

Shares of PROS Holdings, Inc. (NYSE:PRO) were down 7% during mid-day trading on Friday . The stock traded as low as $22.76 and last traded at $22.39. Approximately 60,463 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 415,986 shares. The stock had previously closed at $24.07.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Oppenheimer downgraded PROS from an “outperform” rating to a “market perform” rating in a report on Thursday, January 16th. KeyCorp raised their price target on shares of PROS from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Robert W. Baird raised their target price on shares of PROS from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Stifel Nicolaus upped their price objective on PROS from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, StockNews.com raised shares of PROS from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

PROS Price Performance

The stock has a fifty day simple moving average of $24.07 and a two-hundred day simple moving average of $21.77. The firm has a market capitalization of $1.08 billion, a P/E ratio of -51.72 and a beta of 1.22.

PROS (NYSE:PRO) last released its earnings results on Thursday, February 6th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.15). As a group, sell-side analysts expect that PROS Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, CAO Scott William Cook sold 5,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $29.84, for a total value of $149,200.00. Following the transaction, the chief accounting officer now directly owns 59,159 shares in the company, valued at $1,765,304.56. This trade represents a 7.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. grew its holdings in shares of PROS by 334.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,748,055 shares of the software maker’s stock valued at $38,387,000 after buying an additional 1,345,256 shares during the last quarter. Nuveen Asset Management LLC lifted its position in PROS by 340.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,383,315 shares of the software maker’s stock valued at $30,378,000 after acquiring an additional 1,069,141 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in PROS during the 3rd quarter valued at about $17,921,000. Tensile Capital Management LP increased its holdings in PROS by 373.4% during the 3rd quarter. Tensile Capital Management LP now owns 1,161,301 shares of the software maker’s stock worth $21,507,000 after purchasing an additional 915,990 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of PROS in the third quarter worth approximately $6,713,000. Institutional investors and hedge funds own 94.27% of the company’s stock.

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.