GW&K Investment Management LLC Takes $52.13 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

GW&K Investment Management LLC bought a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 753,103 shares of the company's stock, valued at approximately $52,130,000. GW&K Investment Management LLC owned approximately 0.52% of Procore Technologies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PCOR. International Assets Investment Management LLC boosted its holdings in Procore Technologies by 6,823.1% in the fourth quarter. International Assets Investment Management LLC now owns 900 shares of the company's stock valued at $62,000 after purchasing an additional 887 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Procore Technologies in the 4th quarter valued at about $62,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Procore Technologies during the fourth quarter worth about $242,000. Asset Management One Co. Ltd. purchased a new stake in shares of Procore Technologies during the fourth quarter worth approximately $265,000. Finally, Bullseye Asset Management LLC raised its holdings in Procore Technologies by 100.4% in the third quarter. Bullseye Asset Management LLC now owns 3,993 shares of the company's stock valued at $261,000 after acquiring an additional 2,000 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays lowered their price target on shares of Procore Technologies from $83.00 to $78.00 and set an "overweight" rating for the company in a report on Thursday, May 2nd. Piper Sandler dropped their price objective on shares of Procore Technologies from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, May 2nd. KeyCorp raised their price target on Procore Technologies from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. JPMorgan Chase & Co. raised their target price on shares of Procore Technologies from $83.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, May 2nd. Finally, JMP Securities boosted their target price on Procore Technologies from $81.00 to $93.00 and gave the stock a "market outperform" rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.79.

Procore Technologies Trading Up 1.4 %

Shares of Procore Technologies stock traded up $0.95 during mid-day trading on Monday, hitting $70.41. 989,696 shares of the stock were exchanged, compared to its average volume of 1,260,980. Procore Technologies, Inc. has a twelve month low of $48.11 and a twelve month high of $83.35. The company has a 50-day simple moving average of $74.29 and a 200 day simple moving average of $69.54. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of -73.34 and a beta of 0.78. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.13. The company had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. Research analysts forecast that Procore Technologies, Inc. will post -0.35 EPS for the current year.

Insider Activity at Procore Technologies

In related news, insider Benjamin C. Singer sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $82.15, for a total value of $246,450.00. Following the sale, the insider now directly owns 125,321 shares of the company's stock, valued at $10,295,120.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the business's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $68.97, for a total transaction of $4,689,960.00. Following the completion of the sale, the chief executive officer now owns 530,049 shares of the company's stock, valued at $36,557,479.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Benjamin C. Singer sold 3,000 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $82.15, for a total value of $246,450.00. Following the completion of the transaction, the insider now owns 125,321 shares in the company, valued at $10,295,120.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 511,146 shares of company stock worth $39,475,882. 39.20% of the stock is currently owned by insiders.

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.