Cidel Asset Management Inc. Cuts Stock Position in Docebo Inc. $DCBO

Cidel Asset Management Inc. cut its holdings in shares of Docebo Inc. (NASDAQ:DCBO) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,348 shares of the company’s stock after selling 1,128 shares during the quarter. Cidel Asset Management Inc. owned approximately 0.09% of Docebo worth $733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in Docebo during the first quarter worth about $263,000. 1832 Asset Management L.P. increased its stake in shares of Docebo by 112.6% during the 1st quarter. 1832 Asset Management L.P. now owns 10,631 shares of the company’s stock worth $305,000 after purchasing an additional 5,631 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Docebo by 7.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,444 shares of the company’s stock worth $331,000 after purchasing an additional 783 shares during the period. Nuveen LLC purchased a new position in Docebo in the first quarter valued at approximately $345,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in Docebo by 83.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 14,272 shares of the company’s stock valued at $410,000 after purchasing an additional 6,489 shares during the period. 53.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research upgraded Docebo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. TD Cowen reissued a “buy” rating and issued a $37.00 price objective on shares of Docebo in a report on Friday, October 3rd. TD Securities assumed coverage on shares of Docebo in a report on Friday, October 3rd. They set a “buy” rating and a $37.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Docebo in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Docebo from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Docebo Price Performance

DCBO stock opened at $26.28 on Monday. The firm has a 50 day moving average of $29.55 and a 200-day moving average of $29.05. The firm has a market capitalization of $755.02 million, a P/E ratio of 38.09 and a beta of 1.45. Docebo Inc. has a 12 month low of $25.50 and a 12 month high of $53.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.01.

Docebo Company Profile

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company's cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.