Docebo Inc. $DCBO Stock: Beutel Goodman & Co Ltd. Decreases Stake

Beutel Goodman & Co Ltd. lowered its stake in shares of Docebo Inc. (NASDAQ:DCBO) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,505,160 shares of the company’s stock after selling 40,837 shares during the quarter. Beutel Goodman & Co Ltd. owned 6.01% of Docebo worth $34,900,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DCBO. Allworth Financial LP purchased a new position in Docebo during the 2nd quarter worth $52,000. NewEdge Advisors LLC raised its holdings in shares of Docebo by 1,101.5% in the first quarter. NewEdge Advisors LLC now owns 3,977 shares of the company’s stock valued at $69,000 after purchasing an additional 3,646 shares during the last quarter. State of Wyoming purchased a new stake in shares of Docebo in the second quarter valued at about $137,000. K2 Principal Fund L.P. purchased a new stake in shares of Docebo in the second quarter valued at about $303,000. Finally, Turtle Creek Asset Management Inc. lifted its position in shares of Docebo by 38.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 21,200 shares of the company’s stock valued at $370,000 after purchasing an additional 5,900 shares in the last quarter. 53.17% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Docebo

Here are the key news stories impacting Docebo this week:

• Positive Sentiment: Docebo reported quarterly EPS of $0.55, above the $0.53 consensus, and revenue of $70.33 million, ahead of expectations of $68.47 million. The stock reached a new 52-week high following the results. Docebo reaches a new 52-week high on strong earnings
• Positive Sentiment: Several firms raised their price targets and maintained bullish ratings: Stifel Nicolaus to $36 with a Buy rating, ATB Cormark to $49 with an Outperform rating, and Canaccord Genuity to $41.50 with a Buy rating. Stifel Nicolaus recommendations ATB Cormark recommendations Canaccord Genuity recommendations
• Neutral Sentiment: National Bank Financial raised its target slightly, from $31 to $32, but retained a Sector Perform rating, indicating a more measured view. National Bank Financial recommendations

Analyst Ratings Changes

DCBO has been the topic of several analyst reports. National Bank Financial boosted their price target on shares of Docebo from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Monday. Needham & Company LLC upped their price objective on shares of Docebo from $31.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen upgraded shares of Docebo from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus lifted their target price on shares of Docebo from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Canaccord Genuity Group lifted their target price on shares of Docebo from $36.00 to $41.50 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Docebo Price Performance

Shares of Docebo stock opened at $31.18 on Tuesday. The firm has a market cap of $778.88 million, a PE ratio of 23.98 and a beta of 1.18. Docebo Inc. has a 1 year low of $14.39 and a 1 year high of $31.94. The stock has a fifty day moving average price of $26.20 and a 200-day moving average price of $20.75.

Docebo (NASDAQ:DCBO) last issued its quarterly earnings results on Friday, November 6th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $70.33 million for the quarter, compared to the consensus estimate of $68.47 million. Docebo had a net margin of 12.98% and a return on equity of 120.29%. As a group, equities analysts anticipate that Docebo Inc. will post 1.45 EPS for the current fiscal year.

Docebo Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be given a C$2.42 dividend. The ex-dividend date of this dividend is Monday, November 16th.

Docebo Company Profile

Docebo Inc develops learning management and learning technology solutions for businesses and other organizations. Its cloud-based platform is designed to help companies create, manage, deliver and measure training for employees, customers, partners and other learners.

The Docebo Learning Platform includes tools for course administration, content delivery, artificial intelligence-supported learning, reporting and analytics, and integrations with other enterprise software. The company also offers capabilities for creating and managing learning content, supporting instructor-led and virtual training, and delivering extended-enterprise education programs.

Founded in 2005 by Claudio Erba, Docebo is headquartered in Toronto, Canada, and serves organizations internationally.