Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,561 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,423 shares of the company’s stock after purchasing an additional 3,561 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Procore Technologies were worth $2,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust boosted its position in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC boosted its position in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares during the period. Hilltop National Bank bought a new position in Procore Technologies during the fourth quarter worth $53,000. Finally, GAMMA Investing LLC boosted its position in Procore Technologies by 84.7% during the fourth quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock worth $56,000 after purchasing an additional 342 shares during the period. 81.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PCOR. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $100.00 in a report on Monday, January 6th. UBS Group lifted their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. BMO Capital Markets lifted their target price on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, Macquarie dropped their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.24.

Procore Technologies Stock Up 3.8 %

Shares of NYSE PCOR opened at $68.28 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $10.24 billion, a price-to-earnings ratio of -94.83 and a beta of 0.85. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92. The stock has a 50-day moving average price of $77.06 and a two-hundred day moving average price of $71.23.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. As a group, analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $67.10, for a total transaction of $344,088.80. Following the sale, the director now directly owns 1,226,240 shares in the company, valued at approximately $82,280,704. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Howard Fu sold 1,190 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.00, for a total value of $79,730.00. Following the sale, the chief financial officer now owns 146,160 shares in the company, valued at approximately $9,792,720. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,657 shares of company stock valued at $5,442,199. 29.00% of the stock is currently 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.