Connor Clark & Lunn Investment Management Ltd. Purchases 185,116 Shares of Yext (NYSE:YEXT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Yext (NYSE:YEXT) by 21.8% in Q1, now owning 1,034,100 shares worth approximately $6.37 million.
• Several institutional investors, including JPMorgan Chase & Co. and Tenzing Global Management LLC, have also significantly increased their holdings in Yext during the last quarter.
• Analysts have responded positively to Yext, with DA Davidson and B. Riley raising their price targets and ratings on the stock to $10.00.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Yext (NYSE:YEXT - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,034,100 shares of the company's stock after buying an additional 185,116 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.83% of Yext worth $6,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathstone Holdings LLC purchased a new position in shares of Yext in the fourth quarter valued at $13,026,000. Tenzing Global Management LLC grew its holdings in shares of Yext by 20.8% in the fourth quarter. Tenzing Global Management LLC now owns 2,537,500 shares of the company's stock valued at $16,138,000 after purchasing an additional 437,500 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Yext in the fourth quarter valued at $2,219,000. Dimensional Fund Advisors LP grew its holdings in shares of Yext by 22.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,469,605 shares of the company's stock valued at $9,346,000 after purchasing an additional 273,498 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Yext by 39.1% in the fourth quarter. JPMorgan Chase & Co. now owns 716,693 shares of the company's stock valued at $4,558,000 after purchasing an additional 201,472 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

YEXT has been the subject of a number of recent research reports. DA Davidson raised their target price on shares of Yext from $7.50 to $8.25 and gave the company a "neutral" rating in a report on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of Yext in a research note on Wednesday, June 4th. Finally, B. Riley raised shares of Yext from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $7.00 to $10.00 in a research note on Wednesday, June 4th.

Yext Stock Performance

NYSE YEXT traded up $0.07 on Friday, hitting $8.09. 1,002,129 shares of the stock were exchanged, compared to its average volume of 810,161. The stock has a fifty day moving average price of $8.24 and a two-hundred day moving average price of $7.09. The firm has a market capitalization of $990.22 million, a P/E ratio of -44.94 and a beta of 1.06. Yext has a 52-week low of $4.73 and a 52-week high of $9.15.

Yext Profile

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.