Connor Clark & Lunn Investment Management Ltd. Raises Stake in Docebo Inc. (NASDAQ:DCBO)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Docebo Inc. (NASDAQ:DCBO) by 7.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 236,825 shares of the company’s stock after buying an additional 15,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.78% of Docebo worth $10,449,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Grandeur Peak Global Advisors LLC lifted its stake in shares of Docebo by 3.7% during 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 purchased a new stake in shares of Docebo during the third quarter worth $35,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Docebo by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 196,588 shares of the company’s stock worth $7,581,000 after acquiring an additional 1,058 shares during the period. 1832 Asset Management L.P. grew its position in shares of Docebo by 60.0% in the second 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 in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Docebo by 4.4% during the 2nd quarter. TD Asset Management Inc now owns 109,570 shares of the company’s stock valued at $4,230,000 after purchasing an additional 4,580 shares during the period. Institutional investors own 53.17% of the company’s stock.

Docebo Trading Up 1.0 %

NASDAQ DCBO opened at $48.52 on Friday. The firm has a market capitalization of $1.47 billion, a PE ratio of 83.66 and a beta of 1.54. The stock’s 50 day moving average is $45.97 and its 200 day moving average is $41.55. Docebo Inc. has a twelve month low of $33.81 and a twelve month high of $56.41. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

DCBO has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their target price on Docebo from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 8th. CIBC upped their target price on shares of Docebo from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Scotiabank raised their price target on shares of Docebo from $50.00 to $55.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. Atb Cap Markets cut shares of Docebo from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Craig Hallum lifted 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. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.