Trust Point Inc. Increases Stake in Paycor HCM, Inc. (NASDAQ:PYCR)

Trust Point Inc. boosted its stake in shares of Paycor HCM, Inc. (NASDAQ:PYCR) by 62.1% during the 3rd quarter, Holdings Channel reports. The firm owned 52,304 shares of the company’s stock after acquiring an additional 20,038 shares during the quarter. Trust Point Inc.’s holdings in Paycor HCM were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Paycor HCM by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company’s stock worth $133,844,000 after acquiring an additional 710,370 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Paycor HCM by 149.2% during the second quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock worth $7,722,000 after purchasing an additional 364,025 shares during the period. Marshall Wace LLP boosted its position in Paycor HCM by 1,234.9% in the second quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock valued at $4,712,000 after buying an additional 343,194 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Paycor HCM by 207.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock worth $5,907,000 after buying an additional 313,851 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Paycor HCM by 9.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,429,701 shares of the company’s stock valued at $47,233,000 after acquiring an additional 213,313 shares during the period. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC decreased their price objective on Paycor HCM from $42.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Truist Financial dropped their price objective on shares of Paycor HCM from $33.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. The Goldman Sachs Group dropped their price target on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Citigroup upped their price objective on shares of Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, BTIG Research cut their price target on Paycor HCM from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Paycor HCM currently has an average rating of “Moderate Buy” and an average price target of $19.31.

Paycor HCM Stock Up 1.5 %

PYCR opened at $14.36 on Friday. Paycor HCM, Inc. has a 52 week low of $10.92 and a 52 week high of $25.19. The business has a fifty day simple moving average of $13.85 and a 200-day simple moving average of $14.01. The firm has a market cap of $2.56 billion, a P/E ratio of -35.02, a P/E/G ratio of 4.14 and a beta of 0.44.

Paycor HCM (NASDAQ:PYCR) last announced its earnings results on Wednesday, August 14th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Paycor HCM had a negative net margin of 9.00% and a positive return on equity of 2.98%. The firm had revenue of $164.80 million for the quarter, compared to the consensus estimate of $161.14 million. During the same period in the prior year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts expect that Paycor HCM, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total transaction of $52,196.46. Following the completion of the transaction, the director now directly owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by insiders.

About Paycor HCM

Paycor HCM, Inc, together with its subsidiaries, provides software-as-a-service (SaaS) human capital management (HCM) solutions for small and medium-sized businesses (SMBs) primarily in the United States. It offers cloud-native platform to address the comprehensive people management needs of SMB leaders.