Connor Clark & Lunn Investment Management Ltd. Purchases 25,004 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 339,704 shares of the company’s stock after buying an additional 25,004 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Procore Technologies were worth $20,967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCOR. GAMMA Investing LLC raised its stake in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the third quarter worth $26,000. Signaturefd LLC raised its position in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Procore Technologies in the second quarter valued at $51,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets cut their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Scotiabank decreased their target price on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. DA Davidson reaffirmed a “neutral” rating and set a $60.00 price target on shares of Procore Technologies in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.25.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total transaction of $521,030.44. Following the sale, the director now directly owns 1,371,104 shares in the company, valued at $79,606,298.24. This trade represents a 0.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $71.75, for a total transaction of $107,625.00. Following the completion of the transaction, the chief financial officer now owns 171,997 shares of the company’s stock, valued at approximately $12,340,784.75. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,997 shares of company stock valued at $4,497,153 in the last quarter. Insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

NYSE:PCOR opened at $70.26 on Thursday. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $63.46 and a 200-day moving average price of $63.84.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $295.89 million for the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

About Procore Technologies

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.