Trust Point Inc. Raises Stock Position in Paycor HCM, Inc. (NASDAQ:PYCR)

Trust Point Inc. grew its stake in Paycor HCM, Inc. (NASDAQ:PYCR) by 62.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,304 shares of the company’s stock after purchasing an additional 20,038 shares during the quarter. Trust Point Inc.’s holdings in Paycor HCM were worth $742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its stake in Paycor HCM by 950.7% in the second quarter. CWM LLC now owns 2,385 shares of the company’s stock worth $30,000 after buying an additional 2,158 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Paycor HCM by 52.4% in the first quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock worth $67,000 after purchasing an additional 1,178 shares during the period. Quarry LP bought a new position in Paycor HCM in the second quarter worth $69,000. HighMark Wealth Management LLC lifted its position in Paycor HCM by 100.0% during the second quarter. HighMark Wealth Management LLC now owns 7,730 shares of the company’s stock valued at $98,000 after buying an additional 3,865 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Paycor HCM during the 2nd quarter valued at $123,000. 36.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on PYCR. The Goldman Sachs Group lowered their price target on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Needham & Company LLC dropped their price target on Paycor HCM from $42.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Stifel Nicolaus reduced their price objective on Paycor HCM from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group dropped their target price on Paycor HCM from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, Mizuho lowered their price target on Paycor HCM from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paycor HCM has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

Insiders Place Their Bets

In other news, Director Jeremy Rishel sold 3,723 shares of the company’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 completion of the sale, the director now owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by company insiders.

Paycor HCM Price Performance

Shares of NASDAQ PYCR opened at $14.36 on Friday. The company has a market cap of $2.56 billion, a P/E ratio of -35.02, a PEG ratio of 4.14 and a beta of 0.44. The firm has a 50-day simple moving average of $13.85 and a two-hundred day simple moving average of $14.01. Paycor HCM, Inc. has a 1 year low of $10.92 and a 1 year high of $25.19.

Paycor HCM (NASDAQ:PYCR) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $161.14 million. Paycor HCM had a negative net margin of 9.00% and a positive return on equity of 2.98%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, equities research analysts expect that Paycor HCM, Inc. will post 0.25 EPS for the current year.

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.