Handelsbanken Fonder AB Makes New Investment in Paycor HCM, Inc. (NASDAQ:PYCR)

Handelsbanken Fonder AB bought a new stake in Paycor HCM, Inc. (NASDAQ:PYCR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,400 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also made changes to their positions in PYCR. Bank of New York Mellon Corp raised its position in Paycor HCM by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 234,161 shares of the company’s stock valued at $5,346,000 after purchasing an additional 14,536 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paycor HCM by 24.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the company’s stock valued at $307,000 after acquiring an additional 2,647 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Paycor HCM by 29.6% during the third quarter. TD Asset Management Inc now owns 112,176 shares of the company’s stock worth $2,561,000 after purchasing an additional 25,642 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Paycor HCM by 7.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,068,092 shares of the company’s stock valued at $70,045,000 after purchasing an additional 215,084 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Paycor HCM by 10.3% during the 3rd quarter. Fifth Third Bancorp now owns 23,846 shares of the company’s stock valued at $544,000 after purchasing an additional 2,228 shares in the last quarter. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Paycor HCM Stock Up 2.9 %

Shares of PYCR stock opened at $17.30 on Friday. The company has a market cap of $3.08 billion, a P/E ratio of -35.02, a PEG ratio of 5.86 and a beta of 0.54. The business has a 50 day moving average of $18.84 and a two-hundred day moving average of $20.11. Paycor HCM, Inc. has a 52 week low of $16.48 and a 52 week high of $27.50.

Paycor HCM (NASDAQ:PYCR) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $159.54 million for the quarter, compared to analyst estimates of $155.49 million. Paycor HCM had a negative net margin of 13.82% and a positive return on equity of 1.28%. Analysts expect that Paycor HCM, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PYCR. Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of Paycor HCM in a research note on Thursday, April 25th. BTIG Research started coverage on Paycor HCM in a research note on Tuesday, February 6th. They set a “buy” rating and a $26.00 target price for the company. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $22.00 target price (down previously from $27.00) on shares of Paycor HCM in a research report on Friday, January 5th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Paycor HCM has an average rating of “Hold” and an average target price of $27.35.

Insider Activity

In related news, Director Jonathan Corr sold 1,508 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.30, for a total value of $27,596.40. Following the completion of the transaction, the director now directly owns 18,480 shares of the company’s stock, valued at approximately $338,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jonathan Corr sold 1,508 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $18.30, for a total value of $27,596.40. Following the completion of the transaction, the director now owns 18,480 shares in the company, valued at approximately $338,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alice L. Geene sold 1,577 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.39, for a total value of $29,001.03. Following the completion of the sale, the insider now owns 107,581 shares of the company’s stock, valued at $1,978,414.59. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

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.