Blair William & Co. IL Purchases 63,788 Shares of Procore Technologies, Inc. $PCOR

Key Points

• Blair William & Co. increased its stake in Procore Technologies by 6.1%, acquiring an additional 63,788 shares to reach a total of 1,102,423 shares, valued at approximately $75.4 million.
• Procore Technologies reported a quarterly earnings per share of $0.35, surpassing analysts' expectations of $0.24, and experienced a 13.9% year-over-year revenue growth with total revenues of $323.92 million.
• Institutional investors and hedge funds collectively own 81.10% of Procore Technologies, signifying strong institutional interest in the company.

Blair William & Co. IL lifted its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 6.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,102,423 shares of the company's stock after purchasing an additional 63,788 shares during the quarter. Blair William & Co. IL owned 0.74% of Procore Technologies worth $75,428,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Procore Technologies by 84.5% during the first quarter. JPMorgan Chase & Co. now owns 3,259,544 shares of the company's stock worth $215,195,000 after buying an additional 1,492,869 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Procore Technologies by 3.1% during the first quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company's stock valued at $182,365,000 after buying an additional 82,311 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Procore Technologies by 25.6% during the first quarter. Wellington Management Group LLP now owns 2,210,749 shares of the company's stock worth $145,954,000 after acquiring an additional 451,238 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Procore Technologies by 7.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,879,226 shares of the company's stock worth $124,067,000 after acquiring an additional 126,070 shares during the last quarter. Finally, RGM Capital LLC raised its holdings in shares of Procore Technologies by 9.3% in the 1st quarter. RGM Capital LLC now owns 1,790,402 shares of the company's stock worth $118,202,000 after acquiring an additional 153,039 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Procore Technologies Trading Up 4.3%

Shares of Procore Technologies stock opened at $74.45 on Thursday. Procore Technologies, Inc. has a 1 year low of $53.71 and a 1 year high of $88.92. The firm has a market cap of $11.18 billion, a PE ratio of -77.55 and a beta of 0.90. The stock has a fifty day moving average price of $68.77 and a 200-day moving average price of $67.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $323.92 million for the quarter, compared to the consensus estimate of $311.91 million. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Procore Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Berenberg Bank started coverage on Procore Technologies in a research note on Friday, October 3rd. They set a "buy" rating and a $84.00 price target for the company. Stifel Nicolaus lifted their target price on Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 1st. BMO Capital Markets upped their price target on Procore Technologies from $75.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Piper Sandler raised their price objective on Procore Technologies from $75.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Mizuho upped their target price on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Procore Technologies has an average rating of "Moderate Buy" and a consensus target price of $83.11.

Insider Activity

In other news, Director Connor Kevin J. O sold 7,692 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $66.28, for a total transaction of $509,825.76. Following the completion of the sale, the director owned 1,146,405 shares in the company, valued at $75,983,723.40. This trade represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 814 shares of Procore Technologies stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $74.35, for a total transaction of $60,520.90. Following the completion of the sale, the chief financial officer directly owned 197,457 shares in the company, valued at $14,680,927.95. This trade represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,422 shares of company stock valued at $1,685,658 in the last three months. Company insiders own 21.50% of the company's stock.

About Procore Technologies

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.

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