Everence Capital Management Inc. Takes $269,000 Position in Procore Technologies, Inc. (NYSE:PCOR)

Everence Capital Management Inc. bought a new position in Procore Technologies, Inc. (NYSE:PCOR) in the fourth quarter, Holdings Channel.com reports. The fund bought 3,590 shares of the company’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XN LP lifted its holdings in shares of Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares during the period. Meritage Group LP raised its position in Procore Technologies by 66.6% in the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after acquiring an additional 1,098,019 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after acquiring an additional 1,297,151 shares during the last quarter. Dragoneer Investment Group LLC boosted its position in shares of Procore Technologies by 254.0% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares in the last quarter. Finally, Holocene Advisors LP grew its stake 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 during the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In other Procore Technologies news, insider Steven Scott Davis sold 9,671 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 192,137 shares of the company’s stock, valued at $12,488,905. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total value of $318,294.96. Following the transaction, the director now owns 1,355,720 shares in the company, valued at approximately $84,149,540.40. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,693 shares of company stock worth $10,479,096 in the last 90 days. 29.00% of the stock is owned by insiders.

Procore Technologies Stock Performance

Shares of NYSE PCOR opened at $76.18 on Wednesday. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $86.67. The business’s 50-day moving average price is $75.75 and its two-hundred day moving average price is $66.61. 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 has a market capitalization of $11.33 billion, a P/E ratio of -152.36 and a beta of 0.83.

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

Analyst Ratings Changes

A number of analysts recently weighed in on PCOR shares. KeyCorp raised their target price on shares of Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $100.00 in a research report on Monday. Canaccord Genuity Group increased their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Mizuho boosted their price objective on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, BMO Capital Markets raised their target price on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Procore Technologies Company 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.