Praesidium Investment Management Company LLC Makes New Investment in Procore Technologies, Inc. (NYSE:PCOR)

Praesidium Investment Management Company LLC bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 345,289 shares of the company’s stock, valued at approximately $21,311,000. Procore Technologies accounts for 3.6% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 12th largest position. Praesidium Investment Management Company LLC owned about 0.23% of Procore Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. boosted its position in shares of Procore Technologies by 5.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,330,586 shares of the company’s stock worth $82,124,000 after purchasing an additional 73,641 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after purchasing an additional 1,297,151 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Procore Technologies by 1.1% in the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock worth $115,623,000 after purchasing an additional 21,234 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Procore Technologies by 27,239.5% in the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock worth $97,599,000 after purchasing an additional 1,575,534 shares in the last quarter. Finally, Circle Wealth Management LLC boosted its position in shares of Procore Technologies by 25.5% in the 3rd quarter. Circle Wealth Management LLC now owns 5,591 shares of the company’s stock worth $345,000 after purchasing an additional 1,137 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PCOR. JMP Securities boosted their price target on Procore Technologies from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Monday. TD Cowen upped their price objective on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Canaccord Genuity Group upped their price objective on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on Procore Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Baird R W raised Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.65.

Procore Technologies Trading Up 2.3 %

NYSE:PCOR opened at $82.67 on Wednesday. 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 firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of -165.34 and a beta of 0.82. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $83.35. The business has a fifty day moving average price of $66.88 and a 200-day moving average price of $64.43.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $295.89 million during 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%. Sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total value of $299,885.44. Following the completion of the sale, the director now owns 1,360,848 shares in the company, valued at approximately $79,582,391.04. This represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.01, for a total value of $507,065.00. Following the completion of the sale, the director now owns 23,932 shares of the company’s stock, valued at $1,866,935.32. The trade was a 21.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,553 shares of company stock worth $7,933,974. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Profile

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.