Everence Capital Management Inc. Purchases Shares of 3,590 Procore Technologies, Inc. (NYSE:PCOR)

Everence Capital Management Inc. acquired a new position in Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,590 shares of the company’s stock, valued at approximately $269,000.

A number of other institutional investors have also modified their holdings of the company. XN LP lifted its position in Procore Technologies by 101.1% during 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 in the last quarter. 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 valued at $169,453,000 after purchasing an additional 1,098,019 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Procore Technologies by 128.7% during the third 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. Dragoneer Investment Group LLC boosted its position in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after buying an additional 1,609,607 shares during the period. Finally, Holocene Advisors LP raised its holdings in shares of Procore Technologies by 1.1% during the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after buying an additional 21,234 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the firm’s 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,693 shares of company stock valued at $10,479,096. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Shares of NYSE PCOR opened at $76.18 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $75.75 and its two-hundred day moving average price is $66.61. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $86.67. The stock 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) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets raised their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group upped their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $100.00 in a research note on Monday. Finally, Barclays lifted their price objective on Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.