Bank of Montreal Can Acquires Shares of 384,961 Procore Technologies, Inc. (NYSE:PCOR)

Bank of Montreal Can bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 384,961 shares of the company’s stock, valued at approximately $25,627,000. Bank of Montreal Can owned 0.26% of Procore Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC lifted its stake in Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares during the period. Rothschild Investment LLC purchased a new position in Procore Technologies during the second quarter valued at approximately $51,000. Advisors Asset Management Inc. lifted its holdings in Procore Technologies by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock worth $103,000 after buying an additional 260 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Procore Technologies by 30.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock worth $104,000 after buying an additional 297 shares during the period. Finally, Covestor Ltd boosted its position in Procore Technologies by 29.3% during the 1st quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $58.48, for a total value of $299,885.44. Following the sale, the director now directly owns 1,360,848 shares in the company, valued at approximately $79,582,391.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Connor Kevin J. O sold 8,974 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the sale, the director now directly owns 1,371,104 shares in the company, valued at $79,606,298.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the transaction, the director now directly owns 1,360,848 shares in the company, valued at $79,582,391.04. The disclosure for this sale can be found here. Insiders sold 169,890 shares of company stock valued at $10,540,071 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

PCOR has been the topic of several analyst reports. DA Davidson lowered Procore Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $90.00 to $60.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Procore Technologies from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Piper Sandler lowered their target price on shares of Procore Technologies from $74.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. TD Cowen initiated coverage on Procore Technologies in a report on Wednesday, June 12th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Procore Technologies Stock Performance

PCOR opened at $62.05 on Friday. The firm has a 50 day moving average of $59.62 and a two-hundred day moving average of $66.84. The firm has a market capitalization of $9.16 billion, a PE ratio of -64.63 and a beta of 0.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. Procore Technologies had a negative return on equity of 4.13% and a negative net margin of 8.54%. The company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $275.26 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. Procore Technologies’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, analysts anticipate that Procore Technologies, Inc. will post -0.28 EPS for the current year.

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.