Riverbridge Partners LLC Reduces Stake in PROS Holdings, Inc. (PRO)

Riverbridge Partners LLC reduced its stake in shares of PROS Holdings, Inc. (NYSE:PRO) by 7.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,218,402 shares of the software maker’s stock after selling 170,478 shares during the quarter. PROS accounts for 1.5% of Riverbridge Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Riverbridge Partners LLC owned approximately 0.06% of PROS worth $69,658,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. TIAA CREF Investment Management LLC raised its position in PROS by 0.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 60,627 shares of the software maker’s stock worth $2,123,000 after purchasing an additional 355 shares during the last quarter. Legal & General Group Plc raised its position in PROS by 13.1% during the 3rd quarter. Legal & General Group Plc now owns 4,901 shares of the software maker’s stock worth $172,000 after purchasing an additional 567 shares during the last quarter. Vanguard Group Inc raised its position in PROS by 18.5% during the 3rd quarter. Vanguard Group Inc now owns 1,586,583 shares of the software maker’s stock worth $55,562,000 after purchasing an additional 247,315 shares during the last quarter. Federated Investors Inc. PA bought a new position in PROS during the 3rd quarter worth $924,000. Finally, Marshall Wace LLP bought a new position in PROS during the 3rd quarter worth $11,741,000. 99.41% of the stock is owned by institutional investors and hedge funds.

PRO has been the subject of several analyst reports. Nomura lowered their target price on PROS from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Royal Bank of Canada initiated coverage on PROS in a research report on Tuesday, October 16th. They set an “outperform” rating and a $38.00 target price for the company. Finally, Zacks Investment Research lowered PROS from a “buy” rating to a “hold” rating in a research report on Friday, December 28th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.50.

Shares of PRO traded down $0.12 during trading hours on Monday, hitting $32.34. The stock had a trading volume of 1,392 shares, compared to its average volume of 222,591. The company has a debt-to-equity ratio of 3.53, a current ratio of 2.63 and a quick ratio of 2.63. The company has a market cap of $1.20 billion, a PE ratio of -21.10 and a beta of 1.02. PROS Holdings, Inc. has a 1-year low of $26.35 and a 1-year high of $41.10.

PROS (NYSE:PRO) last issued its earnings results on Thursday, October 25th. The software maker reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.06. The firm had revenue of $49.08 million during the quarter, compared to analyst estimates of $47.94 million. Analysts expect that PROS Holdings, Inc. will post -1.19 EPS for the current fiscal year.

In other news, CEO Andres Reiner sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $32.21, for a total value of $322,100.00. Following the completion of the sale, the chief executive officer now directly owns 435,399 shares in the company, valued at approximately $14,024,201.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Thomas Dziersk sold 2,000 shares of PROS stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $31.71, for a total value of $63,420.00. Following the transaction, the executive vice president now owns 7,077 shares of the company’s stock, valued at approximately $224,411.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,000 shares of company stock valued at $699,220. 15.40% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY WARNING: “Riverbridge Partners LLC Reduces Stake in PROS Holdings, Inc. (PRO)” was published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.com-unik.info/2019/01/14/riverbridge-partners-llc-reduces-stake-in-pros-holdings-inc-pro.html.

PROS Company Profile

PROS Holdings, Inc, a cloud software company, provides solutions for companies to price, configure, and sell their products and services to their customers. The company offers SellingPRO solutions, which include configuration, quoting, and e-commerce capabilities with data science; and PricingPRO solutions that deliver insight into pricing practices and provides pricing recommendations, as well as enhances control over pricing execution.

Read More: How is a Moving Average Calculated?

Want to see what other hedge funds are holding PRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PROS Holdings, Inc. (NYSE:PRO).

Institutional Ownership by Quarter for PROS (NYSE:PRO)

Receive News & Ratings for PROS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PROS and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit