PROS (NYSE:PRO) Shares Gap Down – Here’s Why

PROS Holdings, Inc. (NYSE:PRO) shares gapped down before the market opened on Thursday . The stock had previously closed at $22.25, but opened at $21.73. PROS shares last traded at $21.79, with a volume of 29,488 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRO shares. Craig Hallum upgraded shares of PROS from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday, October 30th. KeyCorp cut their target price on PROS from $36.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded PROS from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Oppenheimer lowered PROS from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Needham & Company LLC dropped their price target on PROS from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.88.

PROS Price Performance

The company has a fifty day moving average of $22.92 and a 200-day moving average of $21.38. The firm has a market cap of $1.06 billion, a P/E ratio of -35.99 and a beta of 1.21.

PROS (NYSE:PRO) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $82.70 million for the quarter, compared to the consensus estimate of $82.32 million. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) EPS. On average, sell-side analysts expect that PROS Holdings, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRO. Jacobs Levy Equity Management Inc. bought a new position in shares of PROS during the 3rd quarter worth $17,921,000. Tensile Capital Management LP grew its stake in shares of 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 acquiring an additional 915,990 shares during the period. Fred Alger Management LLC grew its stake in shares of PROS by 14.7% during the 2nd quarter. Fred Alger Management LLC now owns 2,919,116 shares of the software maker’s stock worth $83,633,000 after acquiring an additional 373,982 shares during the period. Algert Global LLC bought a new position in shares of PROS during the 3rd quarter worth $6,713,000. Finally, JPMorgan Chase & Co. grew its stake in shares of PROS by 570.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 397,424 shares of the software maker’s stock worth $7,360,000 after acquiring an additional 338,158 shares during the period. Institutional investors own 94.27% of the company’s stock.

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.