PROS (NYSE:PRO) Rating Lowered to Underweight at JPMorgan Chase & Co.

PROS (NYSE:PRO) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Friday, Marketbeat Ratings reports. They currently have a $38.00 target price on the software maker’s stock, down from their previous target price of $40.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.46% from the company’s current price.

Several other research analysts have also recently weighed in on PRO. ValuEngine upgraded shares of PROS from a “hold” rating to a “buy” rating in a report on Friday, May 1st. Robert W. Baird boosted their target price on shares of PROS from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Needham & Company LLC assumed coverage on shares of PROS in a research note on Tuesday, May 19th. They issued a “buy” rating and a $40.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of PROS from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Finally, Craig Hallum cut shares of PROS from a “buy” rating to a “hold” rating and dropped their target price for the company from $42.00 to $35.00 in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.30.

PROS stock traded down $6.06 during midday trading on Friday, hitting $32.63. 2,232,820 shares of the stock were exchanged, compared to its average volume of 243,129. PROS has a 52-week low of $19.73 and a 52-week high of $75.39. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -18.54 and a beta of 1.51. The business’s 50-day moving average price is $42.23 and its 200-day moving average price is $41.62. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.03.

PROS (NYSE:PRO) last released its quarterly earnings results on Thursday, July 30th. The software maker reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.08. PROS had a negative net margin of 28.65% and a negative return on equity of 31.78%. The business had revenue of $63.75 million for the quarter, compared to analysts’ expectations of $60.45 million. On average, sell-side analysts predict that PROS will post -1.16 earnings per share for the current fiscal year.

In related news, CFO Stefan B. Schulz sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $44.63, for a total transaction of $89,260.00. Also, CFO Stefan B. Schulz sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer now owns 240,636 shares in the company, valued at $9,625,440. The disclosure for this sale can be found here. Insiders have sold a total of 8,664 shares of company stock worth $350,906 over the last 90 days. 10.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. increased its holdings in PROS by 25.2% during the 4th quarter. Advisor Group Inc. now owns 1,020 shares of the software maker’s stock worth $61,000 after acquiring an additional 205 shares during the period. Russell Investments Group Ltd. increased its holdings in PROS by 106.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,490 shares of the software maker’s stock worth $77,000 after acquiring an additional 1,281 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PROS by 23.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,227 shares of the software maker’s stock worth $100,000 after acquiring an additional 610 shares during the period. Advisor Group Holdings Inc. bought a new stake in PROS during the 1st quarter worth approximately $157,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PROS by 74.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,620 shares of the software maker’s stock worth $250,000 after acquiring an additional 2,393 shares during the period. Institutional investors own 94.68% of the company’s stock.

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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