The Vanguard Group, Inc. recently announced the acquisition of new stake in PROS Holdings Inc. (NYSE:PRO). The institutional investor has increased its shareholding in the Technology company by 3.52% to 3.96 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 8.73% valued currently at $95.96 million. In addition, Fred Alger Management LLC raised its holdings by 10835.0 to 3.64 million shares. And Brown Advisory LLC has lifted its position by 4.43% or 90286.0 shares – to 2.13 million shares.
With over 0.41 million PROS Holdings Inc. (PRO) shares trading Friday and a closing price of $23.82 on the day, the dollar volume was approximately $9.84 million. The shares have shown a negative half year performance of -2.82% and its price on 01/13/23 lost nearly -1.98%. Currently, there are 45.31M common shares owned by the public and among those 40.67M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for PRO have a consensus price objective of $36.17. The analysts have set the share’s price value over the next 12 months at a high of $51.00 and a low of $30.00. The average price target is 34.14% above its recent price level and an upside to the estimated low will see the stock gain 20.6% over that period. But an upside of 53.29% will see the stock hit the forecast high price target while median target price for the stock is $34.00.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 133,556 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 92,331 shares.
The top 3 mutual fund holders in PROS Holdings Inc. are Alger Funds – Small Cap Focus Fun, Brown Capital Management – Small, and Conestoga Small Cap Fund. Alger Funds – Small Cap Focus Fun owns 2.98 million shares of the company’s stock, all valued at over $72.27 million. The company sold -0.22 million shares recently to bring their total holdings to about 6.57% of the shares outstanding. Brown Capital Management – Small sold 11310.0 shares to see its total holdings shrink to 2.81 million shares valued at over $68.2 million and representing 6.20% of the shares outstanding. Conestoga Small Cap Fund now owns shares totaling to 4.64% of the shares outstanding.
Shares of PROS Holdings Inc. (NYSE: PRO) opened at $24.02, down -$0.28 from a prior closing price of $24.30. However, the script later moved the day high at 24.32, down -1.98%. The company’s stock has a 5-day price change of -0.83% and -8.38% over the past three months. PRO shares are trading -1.81% year to date (YTD), with the 12-month market performance down to -24.19% lower. It has a 12-month low price of $18.08 and touched a high of $35.12 over the same period. PRO has an average intraday trading volume of 257.79K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.16%, -1.10%, and -7.40% respectively.
Institutional ownership of PROS Holdings Inc. (NYSE: PRO) shares accounts for 98.90% of the company’s 45.31M shares outstanding. Mutual fund holders own 48.49%, while other institutional holders and individual stakeholders account for 49.38% and 20.00% respectively.
It has a market capitalization of $1.10B and a beta (3y monthly) value of 1.09. The earnings-per-share (ttm) stands at -$1.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.38% over the week and 4.22% over the month.
Analysts forecast that PROS Holdings Inc. (PRO) will achieve an EPS of -$0.17 for the current quarter, -$0.12 for the next quarter and -$0.5 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.13 a year ago. Earnings per share for the fiscal year are expected to decrease by -3.00%, and 12.70% over the next financial year. EPS should grow at an annualized rate of 36.50% over the next five years, compared to 5.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate PROS Holdings Inc. (PRO) as a “Strong Buy” at a consensus score of 1.70. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PRO, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on May 04, 2022, with the firm’s price target at $35. Stifel coverage for the PROS Holdings Inc. (PRO) stock in a research note released on February 15, 2022 offered a Buy rating with a price target of $48. JP Morgan was of a view on December 14, 2021 that the stock is Neutral, while RBC Capital Mkts gave the stock Sector Perform rating on October 30, 2020, issuing a price target of $33. KeyBanc Capital Markets on their part issued Sector Weight rating on October 30, 2020.