CHURCHILL MANAGEMENT Corp Buys Shares of 16,328 Procore Technologies, Inc. (NYSE:PCOR)

CHURCHILL MANAGEMENT Corp bought a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,328 shares of the company’s stock, valued at approximately $1,342,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PCOR. Norges Bank bought a new position in Procore Technologies in the fourth quarter worth approximately $68,005,000. Artisan Partners Limited Partnership increased its position in Procore Technologies by 81.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 652,985 shares of the company’s stock worth $45,200,000 after buying an additional 293,613 shares during the last quarter. Eventide Asset Management LLC purchased a new stake in Procore Technologies in the fourth quarter worth $3,302,000. GW&K Investment Management LLC purchased a new stake in Procore Technologies in the fourth quarter worth $52,130,000. Finally, Versor Investments LP purchased a new stake in Procore Technologies in the fourth quarter worth $464,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCOR. Barclays decreased their target price on Procore Technologies from $83.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Canaccord Genuity Group reduced their price target on Procore Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. TD Cowen initiated coverage on Procore Technologies in a research report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Procore Technologies from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Mizuho reiterated a “neutral” rating and issued a $70.00 price target (down from $75.00) on shares of Procore Technologies in a research report on Tuesday, June 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $80.94.

Procore Technologies Stock Performance

Procore Technologies stock opened at $64.41 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $9.42 billion, a P/E ratio of -67.09 and a beta of 0.76. The stock’s 50 day moving average is $68.18 and its 200 day moving average is $71.22. Procore Technologies, Inc. has a twelve month low of $48.11 and a twelve month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.15. The business had revenue of $269.43 million for the quarter, compared to analysts’ expectations of $263.13 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. On average, equities research analysts predict that Procore Technologies, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 3,188 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total value of $223,701.96. Following the transaction, the senior vice president now directly owns 87,248 shares of the company’s stock, valued at approximately $6,122,192.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP William Fred Fleming, Jr. sold 3,188 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $70.17, for a total transaction of $223,701.96. Following the transaction, the senior vice president now directly owns 87,248 shares of the company’s stock, valued at approximately $6,122,192.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $81.30, for a total value of $5,528,400.00. Following the transaction, the chief executive officer now directly owns 531,399 shares in the company, valued at $43,202,738.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 302,576 shares of company stock valued at $21,709,095. 29.00% of the stock is owned by corporate insiders.

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.