PROS Holdings, Inc. (NYSE:PRO) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC trimmed its holdings in PROS Holdings, Inc. (NYSE:PRO) by 13.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,522,502 shares of the software maker’s stock after selling 396,614 shares during the period. Fred Alger Management LLC owned 5.33% of PROS worth $46,717,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PROS in the 2nd quarter valued at about $29,000. Quarry LP acquired a new position in shares of PROS in the 2nd quarter valued at about $38,000. Intech Investment Management LLC acquired a new position in shares of PROS in the 3rd quarter valued at about $204,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of PROS by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,141 shares of the software maker’s stock valued at $206,000 after purchasing an additional 2,393 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of PROS in the 2nd quarter valued at about $210,000. 94.27% of the stock is owned by institutional investors and hedge funds.

PROS Stock Up 1.2 %

PRO stock opened at $23.27 on Friday. PROS Holdings, Inc. has a 52-week low of $16.64 and a 52-week high of $40.99. The stock’s 50 day moving average is $20.28 and its two-hundred day moving average is $22.99. The company has a market capitalization of $1.10 billion, a PE ratio of -37.53 and a beta of 1.20.

PROS (NYSE:PRO) last posted its quarterly earnings data 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 business had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $82.32 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. PROS’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PROS Holdings, Inc. will post -0.29 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PRO. Needham & Company LLC reduced their price objective on PROS from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised PROS from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Robert W. Baird dropped their target price on PROS from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Craig Hallum upgraded 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. Finally, Bank of America dropped their target price on PROS from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, PROS has an average rating of “Buy” and a consensus target price of $31.63.

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.