Connor Clark & Lunn Investment Management Ltd. Has $20.97 Million Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Connor Clark & Lunn Investment Management Ltd. grew its position in Procore Technologies, Inc. (NYSE:PCOR) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 339,704 shares of the company’s stock after purchasing an additional 25,004 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Procore Technologies worth $20,967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCOR. GAMMA Investing LLC lifted its stake in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Procore Technologies during the 3rd quarter worth about $26,000. Signaturefd LLC increased its holdings in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Procore Technologies by 6,069.2% in the 3rd 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 in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Procore Technologies in the 2nd quarter worth approximately $51,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $70.26 on Thursday. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company’s 50-day moving average price is $63.46 and its two-hundred day moving average price is $63.84.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm 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%. On average, sell-side analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 8,974 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the sale, the director now owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Scott Davis sold 9,671 shares of Procore Technologies stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $65.00, for a total transaction of $628,615.00. Following the transaction, the insider now directly owns 192,137 shares in the company, valued at approximately $12,488,905. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,997 shares of company stock worth $4,497,153. Insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Macquarie reissued a “neutral” rating and set a $70.00 target price on shares of Procore Technologies in a research report on Tuesday, July 30th. Piper Sandler boosted their price objective on Procore Technologies from $63.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. DA Davidson reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Procore Technologies in a report on Wednesday, October 2nd. Barclays raised their price objective on shares of Procore Technologies from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday. Five 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.25.

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.