PROS (NYSE:PRO) Upgraded to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of PROS (NYSE:PRO) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $81.00 price objective on the software maker’s stock.

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 “

PRO has been the subject of several other reports. Northland Securities lifted their target price on shares of PROS from $55.00 to $72.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Bank of America began coverage on shares of PROS in a research note on Monday, June 17th. They issued a buy rating and a $75.00 target price for the company. Royal Bank of Canada lifted their target price on shares of PROS to $48.00 and gave the stock an outperform rating in a research note on Tuesday, April 23rd. Stifel Nicolaus lifted their target price on shares of PROS from $60.00 to $83.00 and gave the stock a buy rating in a research note on Friday, July 26th. Finally, Needham & Company LLC set a $80.00 target price on shares of PROS and gave the stock a buy rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $71.18.

Shares of PRO opened at $67.90 on Tuesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 2.21 and a quick ratio of 2.21. The firm has a 50 day simple moving average of $69.90 and a 200-day simple moving average of $53.96. PROS has a 1-year low of $28.18 and a 1-year high of $75.39. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -62.29 and a beta of 1.13.

PROS (NYSE:PRO) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.01. PROS had a negative net margin of 28.41% and a negative return on equity of 57.99%. The business had revenue of $63.88 million during the quarter, compared to analysts’ expectations of $61.41 million. During the same period last year, the company posted ($0.16) EPS. The company’s revenue was up 34.8% on a year-over-year basis. On average, equities analysts expect that PROS will post -0.83 earnings per share for the current fiscal year.

In other PROS news, Director Ronald F. Woestemeyer sold 750,000 shares of PROS stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $72.15, for a total value of $54,112,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas Dziersk sold 3,000 shares of PROS stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $72.49, for a total transaction of $217,470.00. Following the completion of the transaction, the executive vice president now owns 5,357 shares in the company, valued at approximately $388,328.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 781,973 shares of company stock worth $56,423,109. 13.70% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Columbus Circle Investors acquired a new position in shares of PROS during the 2nd quarter valued at $6,396,000. Stephens Investment Management Group LLC lifted its holdings in shares of PROS by 0.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 926,331 shares of the software maker’s stock valued at $58,600,000 after acquiring an additional 5,419 shares in the last quarter. Norges Bank acquired a new position in shares of PROS during the 4th quarter valued at $15,133,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of PROS by 220.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,972 shares of the software maker’s stock valued at $1,263,000 after acquiring an additional 13,730 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of PROS by 19.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,952 shares of the software maker’s stock valued at $251,000 after acquiring an additional 959 shares in the last quarter.

About PROS

PROS Holdings, Inc offers artificial intelligence (AI) solutions that power commerce in the digital economy worldwide. The company's solutions enable buying experiences for business-to-business (B2B) and business-to-consumer companies. It delivers its cloud-based solutions through the Internet as a Service on a subscription basis.

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