Paycor HCM (NASDAQ:PYCR) Shares Gap Up Following Better-Than-Expected Earnings

Paycor HCM, Inc. (NASDAQ:PYCR)’s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $17.85, but opened at $20.10. Paycor HCM shares last traded at $19.73, with a volume of 103,854 shares trading hands.

The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $143.59 million for the quarter, compared to the consensus estimate of $139.51 million. Paycor HCM had a negative net margin of 16.87% and a positive return on equity of 0.43%.

Analyst Upgrades and Downgrades

PYCR has been the topic of several research reports. The Goldman Sachs Group decreased their price target on shares of Paycor HCM from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of Paycor HCM in a report on Thursday. Citigroup cut their target price on shares of Paycor HCM from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. DA Davidson cut their target price on shares of Paycor HCM from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. Finally, UBS Group assumed coverage on shares of Paycor HCM in a report on Tuesday. They issued a “neutral” rating and a $20.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Paycor HCM has an average rating of “Hold” and an average price target of $27.94.

Insider Activity at Paycor HCM

In related news, Director Scott David Miller purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $22.42 per share, for a total transaction of $67,260.00. Following the completion of the acquisition, the director now directly owns 188,437 shares in the company, valued at approximately $4,224,757.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

Institutional Trading of Paycor HCM

Hedge funds have recently modified their holdings of the business. Deutsche Bank AG bought a new stake in shares of Paycor HCM during the 1st quarter valued at $36,000. State of Wyoming boosted its holdings in shares of Paycor HCM by 67.3% during the 2nd quarter. State of Wyoming now owns 2,046 shares of the company’s stock valued at $48,000 after buying an additional 823 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Paycor HCM by 210.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,083 shares of the company’s stock valued at $49,000 after buying an additional 1,412 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Paycor HCM by 70.7% during the 2nd quarter. MetLife Investment Management LLC now owns 2,147 shares of the company’s stock valued at $51,000 after buying an additional 889 shares in the last quarter. Finally, Amundi bought a new stake in shares of Paycor HCM during the 4th quarter valued at $62,000. Institutional investors own 36.76% of the company’s stock.

Paycor HCM Trading Up 4.4 %

The stock has a market cap of $3.30 billion, a P/E ratio of -34.52, a PEG ratio of 9.54 and a beta of 0.56. The stock’s fifty day moving average price is $22.53 and its 200 day moving average price is $23.19.

Paycor HCM Company Profile

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.