Paycor HCM, Inc. (NASDAQ:PYCR) Sees Significant Decline in Short Interest

Paycor HCM, Inc. (NASDAQ:PYCR) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 5,210,000 shares, a drop of 28.6% from the October 31st total of 7,300,000 shares. Approximately 6.4% of the shares of the stock are short sold. Based on an average trading volume of 810,800 shares, the short-interest ratio is currently 6.4 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PYCR shares. JPMorgan Chase & Co. cut their target price on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. UBS Group dropped their price target on Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Paycor HCM in a research note on Friday, November 22nd. TD Cowen raised their price target on Paycor HCM from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Citigroup raised their price target on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.31.

Insider Transactions at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total value of $52,196.46. Following the transaction, the director now owns 21,218 shares in the company, valued at approximately $297,476.36. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in shares of Paycor HCM by 2.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock worth $23,220,000 after purchasing an additional 46,127 shares during the last quarter. Barclays PLC raised its position in shares of Paycor HCM by 50.8% in the 3rd quarter. Barclays PLC now owns 23,991 shares of the company’s stock worth $340,000 after purchasing an additional 8,079 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Paycor HCM in the 3rd quarter worth about $912,000. Geode Capital Management LLC increased its holdings in Paycor HCM by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,354,846 shares of the company’s stock worth $19,231,000 after buying an additional 132,662 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in Paycor HCM by 27.7% in the 3rd quarter. XTX Topco Ltd now owns 22,325 shares of the company’s stock worth $317,000 after buying an additional 4,845 shares in the last quarter. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Paycor HCM Stock Performance

Shares of PYCR traded down $0.07 during trading hours on Friday, hitting $18.06. The company had a trading volume of 548,693 shares, compared to its average volume of 937,255. The firm has a fifty day moving average price of $15.22 and a 200-day moving average price of $13.78. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -69.46, a P/E/G ratio of 4.44 and a beta of 0.42. Paycor HCM has a 52-week low of $10.92 and a 52-week high of $22.65.

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.