Connor Clark & Lunn Investment Management Ltd. Grows Position in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

by · The Cerbat Gem

Connor Clark & Lunn Investment Management Ltd. increased its position in Alarm.com Holdings, Inc. (NASDAQ:ALRM – Free Report) by 26.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,394 shares of the software maker’s stock after buying an additional 35,491 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.34% of Alarm.com worth $9,151,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ALRM. State Board of Administration of Florida Retirement System increased its holdings in Alarm.com by 24.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,971 shares of the software maker’s stock valued at $1,230,000 after purchasing an additional 3,290 shares during the period. Vanguard Group Inc. lifted its stake in Alarm.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,880,922 shares of the software maker’s stock worth $426,190,000 after acquiring an additional 63,653 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in Alarm.com in the first quarter valued at $284,000. UniSuper Management Pty Ltd purchased a new position in Alarm.com during the 1st quarter valued at $759,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Alarm.com by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 42,775 shares of the software maker’s stock worth $3,094,000 after purchasing an additional 2,134 shares in the last quarter. Hedge funds and other institutional investors own 91.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ALRM shares. The Goldman Sachs Group boosted their price target on shares of Alarm.com from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $50.00 target price (down previously from $65.00) on shares of Alarm.com in a report on Monday, November 11th. Barclays raised their target price on Alarm.com from $60.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. StockNews.com downgraded Alarm.com from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Roth Mkm dropped their target price on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Alarm.com presently has an average rating of “Hold” and a consensus target price of $64.40.

View Our Latest Stock Analysis on Alarm.com

Alarm.com Trading Up 0.5 %

Alarm.com stock opened at $60.52 on Friday. Alarm.com Holdings, Inc. has a 12 month low of $51.87 and a 12 month high of $77.29. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 3.58 and a beta of 0.90. The business’s fifty day simple moving average is $55.40 and its two-hundred day simple moving average is $60.99. The company has a current ratio of 8.66, a quick ratio of 8.20 and a debt-to-equity ratio of 1.42.

Insider Buying and Selling

In other Alarm.com news, Director Stephen C. Evans sold 2,625 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $59.67, for a total transaction of $156,633.75. Following the sale, the director now directly owns 5,767 shares in the company, valued at approximately $344,116.89. This trade represents a 31.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.60% of the stock is currently owned by company insiders.

About Alarm.com

(Free Report)

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.

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