Charles Schwab Investment Management Inc. Raises Stock Position in Paycor HCM, Inc. (NASDAQ:PYCR)

Charles Schwab Investment Management Inc. increased its stake in Paycor HCM, Inc. (NASDAQ:PYCR) by 28.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 488,779 shares of the company’s stock after buying an additional 108,602 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.27% of Paycor HCM worth $6,936,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Prevail Innovative Wealth Advisors LLC grew its stake in Paycor HCM by 434.5% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 118,998 shares of the company’s stock worth $1,511,000 after purchasing an additional 96,736 shares in the last quarter. ING Groep NV acquired a new stake in Paycor HCM in the third quarter worth $4,615,000. Principal Financial Group Inc. bought a new position in shares of Paycor HCM during the third quarter worth about $962,000. GSA Capital Partners LLP increased its stake in shares of Paycor HCM by 75.6% in the third quarter. GSA Capital Partners LLP now owns 87,529 shares of the company’s stock valued at $1,242,000 after purchasing an additional 37,691 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Paycor HCM during the second quarter valued at approximately $560,000. 36.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PYCR. BTIG Research reduced their price target on Paycor HCM from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Stephens initiated coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Paycor HCM in a report on Friday, November 22nd. UBS Group cut their target price on Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, The Goldman Sachs Group boosted their price objective on Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Insider Transactions at Paycor HCM

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total value of $52,196.46. Following the completion of the transaction, the director now owns 21,218 shares of the company’s stock, valued at $297,476.36. This represents a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.39% of the stock is currently owned by corporate insiders.

Paycor HCM Trading Up 1.2 %

Shares of Paycor HCM stock opened at $19.59 on Thursday. The firm has a fifty day simple moving average of $16.10 and a 200-day simple moving average of $14.09. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -75.35, a PEG ratio of 4.60 and a beta of 0.51. Paycor HCM, Inc. has a 1-year low of $10.92 and a 1-year high of $22.65.

Paycor HCM 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.