Short Interest in Paycor HCM, Inc. (NASDAQ:PYCR) Decreases By 35.3%

Paycor HCM, Inc. (NASDAQ:PYCR) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 2,880,000 shares, a decrease of 35.3% from the January 15th total of 4,450,000 shares. Based on an average daily trading volume, of 2,250,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 3.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Paycor HCM

Large investors have recently made changes to their positions in the stock. MCF Advisors LLC bought a new position in shares of Paycor HCM in the fourth quarter worth $27,000. International Assets Investment Management LLC boosted its stake in Paycor HCM by 1,923.0% during the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after buying an additional 2,846 shares during the period. Tower Research Capital LLC TRC boosted its stake in Paycor HCM by 273.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,164 shares of the company’s stock valued at $59,000 after buying an additional 2,317 shares during the period. Blue Trust Inc. boosted its stake in Paycor HCM by 869.3% during the fourth quarter. Blue Trust Inc. now owns 3,441 shares of the company’s stock valued at $64,000 after buying an additional 3,086 shares during the period. Finally, Covestor Ltd boosted its stake in Paycor HCM by 29.4% during the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock valued at $76,000 after buying an additional 1,210 shares during the period. 36.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PYCR. Stifel Nicolaus upped their price target on Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Raymond James downgraded Paycor HCM from a “moderate buy” rating to a “hold” rating in a research note on Monday, January 13th. Mizuho increased their price objective on Paycor HCM from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Stephens reaffirmed an “equal weight” rating and set a $22.50 price target (up from $20.00) on shares of Paycor HCM in a research report on Friday, January 10th. Finally, Jefferies Financial Group increased their price target on Paycor HCM from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Paycor HCM presently has an average rating of “Hold” and an average price target of $21.53.

Paycor HCM Price Performance

Shares of Paycor HCM stock remained flat at $22.19 during trading hours on Friday. The stock had a trading volume of 1,367,397 shares, compared to its average volume of 2,803,932. Paycor HCM has a 52-week low of $10.92 and a 52-week high of $23.49. The business has a 50 day moving average price of $21.02 and a two-hundred day moving average price of $16.94.

Paycor HCM (NASDAQ:PYCR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Paycor HCM had a positive return on equity of 4.29% and a negative net margin of 3.06%. Sell-side analysts expect that Paycor HCM will post 0.29 earnings per share for the current fiscal year.

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.