Public Employees Retirement System of Ohio Purchases 42,769 Shares of Procore Technologies, Inc. $PCOR

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Procore Technologies by 129.8%, now owning 75,710 shares valued at approximately $5.18 million.
• Procore Technologies' stock received multiple price target increases from research firms, with Stifel Nicolaus raising their target from $75 to $80, reflecting a positive outlook from analysts.
• In the second quarter, institutional investors owned 81.10% of Procore Technologies' stock, indicating strong support and interest among large investment firms.

Public Employees Retirement System of Ohio increased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 129.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,710 shares of the company's stock after purchasing an additional 42,769 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of Procore Technologies worth $5,180,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. CHICAGO TRUST Co NA grew its stake in shares of Procore Technologies by 44.7% during the second quarter. CHICAGO TRUST Co NA now owns 5,957 shares of the company's stock valued at $408,000 after purchasing an additional 1,840 shares during the last quarter. Cooper Investors PTY Ltd. bought a new stake in shares of Procore Technologies during the second quarter valued at approximately $5,030,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Procore Technologies by 13.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,759 shares of the company's stock valued at $640,000 after purchasing an additional 1,057 shares during the last quarter. First Bank & Trust grew its stake in shares of Procore Technologies by 7.3% during the second quarter. First Bank & Trust now owns 6,293 shares of the company's stock valued at $431,000 after purchasing an additional 427 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida bought a new stake in shares of Procore Technologies during the second quarter valued at approximately $231,000. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on PCOR. Stifel Nicolaus increased their price target on shares of Procore Technologies from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, August 1st. KeyCorp increased their price target on shares of Procore Technologies from $77.00 to $81.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird increased their price target on shares of Procore Technologies from $83.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Citizens Jmp lowered shares of Procore Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 1st. Finally, BMO Capital Markets increased their price objective on shares of Procore Technologies from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.06.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 814 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $74.35, for a total value of $60,520.90. Following the completion of the transaction, the chief financial officer owned 197,457 shares of the company's stock, valued at approximately $14,680,927.95. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Connor Kevin J. O sold 8,035 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $72.36, for a total transaction of $581,412.60. Following the completion of the transaction, the director directly owned 1,154,097 shares of the company's stock, valued at approximately $83,510,458.92. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,649 shares of company stock valued at $3,164,856. Corporate insiders own 21.50% of the company's stock.

Procore Technologies Stock Up 2.0%

Shares of PCOR stock opened at $74.87 on Tuesday. The firm has a fifty day moving average of $69.15 and a 200-day moving average of $67.58. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.02. Procore Technologies, Inc. has a 12-month low of $53.71 and a 12-month high of $88.92. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of -77.99 and a beta of 0.90.

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

Procore Technologies 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.

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