Zacks Investment Research Upgrades PROS Holdings, Inc. (PRO) to Buy
PROS Holdings, Inc. (NYSE:PRO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $25.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target points to a potential upside of 4.60% from the stock’s current price.
According to Zacks, “PROS Holdings, Inc. a world leader in Pricing and Revenue Optimization Software, today announced that the underwriters of its initial public offering have exercised in full their over-allotment option. PROS is a leading provider of pricing and revenue optimization software products, specializing in price analytics, price execution, and price optimization. By using PROS’ software products, companies gain insight into their pricing strategies, identify pricing-based profit leaks, optimize their pricing decision making and improve their business processes and financial performance. PROS’ software products implement advanced pricing science, which includes operations research, forecasting and statistics. PROS also provides a range of services that include analyzing a company’s current pricing processes and implementing software products to improve pricing performance “
A number of other analysts also recently issued reports on the stock. ValuEngine downgraded shares of PROS Holdings from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price objective on shares of PROS Holdings in a report on Tuesday, October 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $28.00 price objective on shares of PROS Holdings in a report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. PROS Holdings currently has a consensus rating of “Buy” and a consensus target price of $31.33.
Shares of PROS Holdings (NYSE:PRO) traded up $0.47 during mid-day trading on Thursday, hitting $23.90. 206,672 shares of the company traded hands, compared to its average volume of 246,686. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of -5.94. PROS Holdings has a 1-year low of $20.34 and a 1-year high of $30.49.
PROS Holdings (NYSE:PRO) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.01. The firm had revenue of $41.94 million during the quarter, compared to the consensus estimate of $41.07 million. PROS Holdings had a negative net margin of 48.93% and a negative return on equity of 2,114.05%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. research analysts forecast that PROS Holdings will post -1.48 EPS for the current year.
In related news, CEO Andres Reiner sold 8,175 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $26.12, for a total transaction of $213,531.00. Following the completion of the transaction, the chief executive officer now directly owns 415,815 shares in the company, valued at approximately $10,861,087.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald F. Woestemeyer sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $25.51, for a total transaction of $1,275,500.00. The disclosure for this sale can be found here. Corporate insiders own 18.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. ETF Managers Group LLC acquired a new position in PROS Holdings during the 2nd quarter worth approximately $110,000. Bank of Montreal Can increased its position in PROS Holdings by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 4,414 shares of the software maker’s stock worth $121,000 after purchasing an additional 59 shares in the last quarter. Legal & General Group Plc increased its position in PROS Holdings by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 6,308 shares of the software maker’s stock worth $172,000 after purchasing an additional 199 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in PROS Holdings during the 2nd quarter worth approximately $359,000. Finally, Russell Investments Group Ltd. acquired a new position in PROS Holdings during the 2nd quarter worth approximately $411,000. Institutional investors and hedge funds own 92.06% of the company’s stock.
About PROS Holdings
PROS Holdings, Inc (PROS) is a provider of revenue and profit realization solutions. The Company provides its solutions to enterprises across the manufacturing, distribution, services, and travel industries, including automotive and industrial, business-to-business (B2B) services, cargo, chemicals and energy, consumer goods, insurance, food and beverage, healthcare, high tech and travel.
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