Federated Hermes Inc. Purchases 44,105 Shares of Procore Technologies, Inc. $PCOR

Federated Hermes Inc. increased its position in Procore Technologies, Inc. (NYSE:PCOR) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 304,219 shares of the company’s stock after purchasing an additional 44,105 shares during the period. Federated Hermes Inc.’s holdings in Procore Technologies were worth $20,815,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Procore Technologies by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 3,282,582 shares of the company’s stock worth $224,594,000 after buying an additional 23,038 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Procore Technologies by 73.3% during the second quarter. Champlain Investment Partners LLC now owns 2,259,420 shares of the company’s stock worth $154,590,000 after acquiring an additional 955,450 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Procore Technologies by 25.6% in the 1st 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 during the last quarter. Geode Capital Management LLC lifted its position in Procore Technologies by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,918,606 shares of the company’s stock valued at $131,292,000 after acquiring an additional 72,870 shares in the last quarter. Finally, RGM Capital LLC lifted its position in Procore Technologies by 9.3% in the 1st quarter. RGM Capital LLC now owns 1,790,402 shares of the company’s stock valued at $118,202,000 after acquiring an additional 153,039 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Performance

NYSE PCOR opened at $77.77 on Wednesday. The company has a market capitalization of $12.09 billion, a PE ratio of -92.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. Procore Technologies, Inc. has a 52-week low of $53.71 and a 52-week high of $88.92. The company has a 50-day simple moving average of $73.91 and a 200 day simple moving average of $70.76.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%.The company had revenue of $172.21 million for the quarter. On average, research analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity at Procore Technologies

In other news, Director Connor Kevin J. O sold 36,196 shares of Procore Technologies stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $78.06, for a total value of $2,825,459.76. Following the completion of the transaction, the director owned 1,071,749 shares in the company, valued at $83,660,726.94. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Bueker sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $79.00, for a total transaction of $513,500.00. Following the completion of the sale, the director directly owned 13,481 shares in the company, valued at approximately $1,064,999. This trade represents a 32.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 416,957 shares of company stock worth $30,494,876 in the last three months. Corporate insiders own 21.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Procore Technologies in a report on Wednesday, October 8th. Berenberg Bank assumed coverage on Procore Technologies in a report on Friday, October 3rd. They set a “buy” rating and a $84.00 price target for the company. DA Davidson upgraded Procore Technologies to a “hold” rating in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, BMO Capital Markets raised their price target on shares of Procore Technologies from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Procore Technologies currently has an average rating of “Moderate Buy” and an average price target of $84.47.

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.