Connor Clark & Lunn Investment Management Ltd. Purchases 35,491 Shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Connor Clark & Lunn Investment Management Ltd. increased its position in Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 26.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor 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.’s holdings in Alarm.com were worth $9,151,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in Alarm.com by 230.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 381,277 shares of the software maker’s stock worth $20,844,000 after purchasing an additional 265,936 shares during the period. Bank of Montreal Can grew its stake in Alarm.com by 2,394.6% during the second quarter. Bank of Montreal Can now owns 273,730 shares of the software maker’s stock valued at $17,406,000 after acquiring an additional 262,757 shares in the last quarter. M&G PLC bought a new stake in Alarm.com in the 3rd quarter valued at $9,583,000. Disciplined Growth Investors Inc. MN lifted its stake in Alarm.com by 6.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,710,998 shares of the software maker’s stock worth $172,257,000 after purchasing an additional 158,465 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Alarm.com by 1,729.4% during the 2nd quarter. Federated Hermes Inc. now owns 118,231 shares of the software maker’s stock valued at $7,512,000 after purchasing an additional 111,768 shares during the last quarter. Hedge funds and other institutional investors own 91.74% of the company’s stock.

Insider Buying and Selling

In other news, Director Stephen C. Evans sold 2,625 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 5,767 shares of the company’s stock, valued at approximately $344,116.89. This represents a 31.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Alarm.com Trading Up 0.5 %

Shares of ALRM opened at $60.52 on Friday. The company’s fifty day simple moving average is $55.40 and its 200-day simple moving average is $60.99. The company has a market cap of $2.99 billion, a P/E ratio of 26.20, a P/E/G ratio of 3.58 and a beta of 0.90. The company has a current ratio of 8.66, a quick ratio of 8.20 and a debt-to-equity ratio of 1.42. Alarm.com Holdings, Inc. has a twelve month low of $51.87 and a twelve month high of $77.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALRM shares. Roth Mkm decreased their target price on Alarm.com from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Barclays increased their target price on Alarm.com from $60.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Jefferies Financial Group started coverage on shares of Alarm.com in a research report on Tuesday, November 5th. They issued a “buy” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $50.00 price objective (down previously from $65.00) on shares of Alarm.com in a research report on Monday, November 11th. Finally, The Goldman Sachs Group boosted their target price on shares of Alarm.com from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $64.40.

Alarm.com Profile

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.