CIBC Asset Management Inc Sells 23,766 Shares of Docebo Inc. (NASDAQ:DCBO)

CIBC Asset Management Inc cut its stake in Docebo Inc. (NASDAQ:DCBO) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,778 shares of the company’s stock after selling 23,766 shares during the period. CIBC Asset Management Inc’s holdings in Docebo were worth $18,664,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Grandeur Peak Global Advisors LLC raised its position in shares of Docebo by 3.7% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 17,025 shares of the company’s stock valued at $833,000 after buying an additional 600 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Docebo during the third quarter valued at approximately $35,000. The Manufacturers Life Insurance Company lifted its stake in Docebo by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 196,588 shares of the company’s stock worth $7,581,000 after purchasing an additional 1,058 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Docebo by 5.3% in the 1st quarter. Swiss National Bank now owns 30,225 shares of the company’s stock valued at $1,477,000 after purchasing an additional 1,525 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Docebo by 60.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,000 shares of the company’s stock valued at $309,000 after purchasing an additional 3,000 shares during the last quarter. 53.17% of the stock is currently owned by institutional investors.

Docebo Price Performance

DCBO stock opened at $46.83 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $45.47 and its 200 day simple moving average is $41.48. Docebo Inc. has a 12-month low of $33.81 and a 12-month high of $56.41. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 80.74 and a beta of 1.54.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Craig Hallum raised their price objective on Docebo from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, November 11th. CIBC raised their price target on shares of Docebo from $44.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Atb Cap Markets cut shares of Docebo from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC raised their target price on shares of Docebo from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank raised their price objective on Docebo from $50.00 to $55.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Docebo currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.36.

Docebo Company Profile

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company's cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.