Norges Bank Purchases Shares of 127,213 PROS Holdings, Inc. (NYSE:PRO)

Norges Bank purchased a new position in shares of PROS Holdings, Inc. (NYSE:PRO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 127,213 shares of the software maker’s stock, valued at approximately $2,794,000.

Several other institutional investors also recently modified their holdings of PRO. Vanguard Group Inc. lifted its holdings in PROS by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 5,670,130 shares of the software maker’s stock worth $124,516,000 after buying an additional 172,997 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of PROS in the fourth quarter worth approximately $156,000. Royce & Associates LP lifted its stake in shares of PROS by 174.7% in the fourth quarter. Royce & Associates LP now owns 128,164 shares of the software maker’s stock worth $2,814,000 after acquiring an additional 81,500 shares during the period. Globeflex Capital L P acquired a new stake in PROS during the 4th quarter valued at approximately $853,000. Finally, Natixis Advisors LLC bought a new position in PROS during the 4th quarter worth approximately $237,000. Institutional investors own 94.27% of the company’s stock.

PROS Stock Performance

PRO stock opened at $16.56 on Friday. The stock’s 50 day simple moving average is $22.30 and its 200 day simple moving average is $21.94. The company has a market cap of $791.61 million, a P/E ratio of -37.64 and a beta of 1.04. PROS Holdings, Inc. has a fifty-two week low of $14.81 and a fifty-two week high of $36.63.

PROS (NYSE:PRO) last issued its earnings results on Thursday, February 6th. The software maker reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.15). Equities analysts predict that PROS Holdings, Inc. will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PRO shares. KeyCorp upped their price objective on shares of PROS from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Stifel Nicolaus increased their price target on PROS from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of PROS in a research note on Friday, February 7th. Robert W. Baird decreased their target price on PROS from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Oppenheimer lowered PROS from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PROS currently has an average rating of “Moderate Buy” and a consensus price target of $31.63.

Insider Buying and Selling at PROS

In related news, CAO Scott William Cook sold 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $29.84, for a total value of $149,200.00. Following the sale, the chief accounting officer now owns 59,159 shares in the company, valued at $1,765,304.56. This represents a 7.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.70% of the company’s stock.

PROS 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.