Raymond James & Associates Boosts Stock Holdings in Paycor HCM, Inc. (NASDAQ:PYCR)

Posted by Defense World Staff on Jan 18th, 2023

Raymond James & Associates boosted its stake in shares of Paycor HCM, Inc. (NASDAQ:PYCR – Get Rating) by 284.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 138,811 shares of the company’s stock after acquiring an additional 102,692 shares during the period. Raymond James & Associates owned 0.08% of Paycor HCM worth $4,103,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Paycor HCM by 5.5% in the 2nd quarter. Fifth Third Bancorp now owns 23,624 shares of the company’s stock worth $614,000 after buying an additional 1,233 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Paycor HCM in the 3rd quarter worth $241,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Paycor HCM in the 2nd quarter worth $231,000. Principal Financial Group Inc. grew its stake in shares of Paycor HCM by 2.3% in the 2nd quarter. Principal Financial Group Inc. now owns 54,444 shares of the company’s stock worth $1,415,000 after buying an additional 1,205 shares in the last quarter. Finally, Shell Asset Management Co. purchased a new position in shares of Paycor HCM in the 2nd quarter worth $128,000. 32.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Moffett Nathanson assumed coverage on shares of Paycor HCM in a research note on Monday, January 9th. They set a “market perform” rating and a $28.00 price target for the company. The Goldman Sachs Group dropped their price target on shares of Paycor HCM from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Paycor HCM presently has an average rating of “Hold” and a consensus target price of $34.08.

Insider Activity

In other Paycor HCM news, Director Scott David Miller purchased 2,700 shares of Paycor HCM stock in a transaction dated Tuesday, December 6th. The stock was acquired at an average price of $25.47 per share, for a total transaction of $68,769.00. Following the acquisition, the director now owns 179,437 shares in the company, valued at approximately $4,570,260.39. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Pride Gp, Inc. sold 6,000,000 shares of Paycor HCM stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $28.45, for a total value of $170,700,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Scott David Miller acquired 2,700 shares of the business’s stock in a transaction dated Tuesday, December 6th. The stock was purchased at an average cost of $25.47 per share, for a total transaction of $68,769.00. Following the transaction, the director now owns 179,437 shares in the company, valued at $4,570,260.39. The disclosure for this purchase can be found here. Company insiders own 0.39% of the company’s stock.

Paycor HCM Price Performance

Shares of PYCR opened at $24.02 on Wednesday. Paycor HCM, Inc. has a 1-year low of $20.14 and a 1-year high of $34.95. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -42.89 and a beta of 0.43. The company has a 50-day moving average of $25.89 and a 200 day moving average of $27.91.

Paycor HCM (NASDAQ:PYCR – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Paycor HCM had a negative net margin of 20.89% and a negative return on equity of 0.78%. The business had revenue of $118.30 million during the quarter, compared to analyst estimates of $113.37 million. On average, equities analysts anticipate that Paycor HCM, Inc. will post -0.02 earnings per share for the current fiscal year.

About Paycor HCM

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Paycor HCM, Inc, through 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. The company's SaaS based people management products include Cor HCM, a complete suite of HCM tools spanning HR, onboarding, payroll, compensation management, employee surveys, expenses, and reporting and analytics; Workforce Management, a solution with flexible time entry, overtime calculations, and scheduling capabilities with real-time payroll synchronization; Benefits Administration, a decision support solution to help leaders to streamline and optimize company's benefits administration; and Talent Management, an integrated compensation and performance management solution.