Primecap Management Co. CA Sells 38,590 Shares of PROS Holdings, Inc. (NYSE:PRO)

Primecap Management Co. CA lessened its stake in PROS Holdings, Inc. (NYSE:PRO) by 13.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 254,980 shares of the software maker’s stock after selling 38,590 shares during the period. Primecap Management Co. CA’s holdings in PROS were worth $4,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its position in shares of PROS by 14.7% during the second 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. Assenagon Asset Management S.A. grew its stake in PROS by 218.6% in the third quarter. Assenagon Asset Management S.A. now owns 418,023 shares of the software maker’s stock worth $7,742,000 after purchasing an additional 286,825 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in PROS by 3,489.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 268,362 shares of the software maker’s stock worth $4,970,000 after purchasing an additional 260,886 shares during the period. Kopion Asset Management LLC raised its position in PROS by 60.0% during the 3rd quarter. Kopion Asset Management LLC now owns 461,695 shares of the software maker’s stock valued at $8,551,000 after purchasing an additional 173,168 shares in the last quarter. Finally, RGM Capital LLC lifted its holdings in shares of PROS by 5.9% in the 2nd quarter. RGM Capital LLC now owns 2,978,677 shares of the software maker’s stock worth $85,339,000 after buying an additional 166,301 shares during the period. Institutional investors own 94.27% of the company’s stock.

PROS Stock Up 1.1 %

Shares of PRO opened at $23.90 on Friday. The company has a 50 day moving average of $19.87 and a two-hundred day moving average of $23.21. PROS Holdings, Inc. has a twelve month low of $16.64 and a twelve month high of $40.99. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -38.55 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 for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $82.70 million during the quarter, compared to analyst estimates of $82.32 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that PROS Holdings, Inc. will post -0.29 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on PRO shares. KeyCorp cut their price target on PROS from $36.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Oppenheimer reduced their price target on shares of PROS from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird dropped their price objective on shares of PROS from $35.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Craig Hallum raised shares of PROS from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Wednesday, October 30th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of PROS in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $31.63.

PROS Company Profile

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.