NewGen Asset Management Ltd Makes New $1.56 Million Investment in Docebo Inc. $DCBO

NewGen Asset Management Ltd bought a new stake in Docebo Inc. (NASDAQ:DCBO) during the first quarter, Holdings Channel.com reports. The firm bought 89,172 shares of the company’s stock, valued at approximately $1,558,000. Docebo accounts for 0.6% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 17th largest holding.

Several other large investors have also modified their holdings of DCBO. Arrowstreet Capital Limited Partnership grew its holdings in shares of Docebo by 0.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 554,383 shares of the company’s stock worth $15,132,000 after purchasing an additional 2,112 shares during the period. CIBC Asset Management Inc raised its holdings in Docebo by 3.8% in the 2nd quarter. CIBC Asset Management Inc now owns 445,517 shares of the company’s stock valued at $12,915,000 after buying an additional 16,432 shares during the period. Wellington Management Group LLP lifted its position in Docebo by 1.2% in the fourth quarter. Wellington Management Group LLP now owns 437,595 shares of the company’s stock valued at $9,715,000 after buying an additional 5,169 shares during the last quarter. FIL Ltd lifted its position in Docebo by 16.1% in the fourth quarter. FIL Ltd now owns 255,518 shares of the company’s stock valued at $5,676,000 after buying an additional 35,445 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Docebo by 137.2% in the fourth quarter. Millennium Management LLC now owns 213,444 shares of the company’s stock valued at $4,741,000 after buying an additional 123,473 shares during the last quarter. Institutional investors and hedge funds own 53.17% of the company’s stock.

Docebo Price Performance

DCBO opened at $19.48 on Tuesday. The stock’s 50-day moving average price is $17.84 and its 200 day moving average price is $18.47. Docebo Inc. has a 12-month low of $14.39 and a 12-month high of $33.42. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The firm has a market cap of $489.73 million, a price-to-earnings ratio of 16.79 and a beta of 1.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $31.00 price target on shares of Docebo in a research report on Friday. Wall Street Zen downgraded shares of Docebo from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings upgraded shares of Docebo from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Docebo in a research report on Wednesday, April 22nd. Finally, National Bank Financial lifted their target price on shares of Docebo from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.08.

About Docebo

Docebo is a cloud-based learning management system (LMS) provider that offers enterprise organizations a comprehensive platform for employee, customer and partner training. The company’s software is designed to streamline learning and development with features such as AI-powered content recommendations, automated learning paths and social collaboration tools. Docebo’s platform supports multiple languages and integrates with a variety of third-party applications, enabling businesses to deliver training at scale across different departments and regions.

Founded in 2005 and headquartered in Toronto, Canada, Docebo has expanded its footprint to serve customers in North America, Europe, the Middle East and the Asia Pacific region.