Paycor HCM, Inc. (NASDAQ:PYCR) Sees Large Drop in Short Interest

Paycor HCM, Inc. (NASDAQ:PYCR) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 4,350,000 shares, a decrease of 16.5% from the November 15th total of 5,210,000 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average daily volume of 843,100 shares, the short-interest ratio is currently 5.2 days.

Analyst Ratings Changes

A number of analysts recently weighed in on PYCR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Paycor HCM in a research report on Friday, November 22nd. Stephens started 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 for the company. Citigroup upped their price target on shares of Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Mizuho boosted their price objective on shares of Paycor HCM from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday. Finally, BMO Capital Markets upgraded shares of Paycor HCM from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $24.00 in a report on Thursday. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Paycor HCM Price Performance

Shares of Paycor HCM stock opened at $19.98 on Friday. The business’s fifty day moving average price is $16.35 and its two-hundred day moving average price is $14.18. The company has a market capitalization of $3.59 billion, a P/E ratio of -76.85, a PEG ratio of 4.70 and a beta of 0.51. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $22.65.

Insider Buying and Selling

In related news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total transaction of $52,196.46. Following the completion of the sale, the director now directly owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.39% of the stock is owned by corporate insiders.

Institutional Trading of Paycor HCM

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in Paycor HCM by 950.7% during the 2nd quarter. CWM LLC now owns 2,385 shares of the company’s stock valued at $30,000 after acquiring an additional 2,158 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Paycor HCM by 1,923.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock worth $42,000 after buying an additional 2,846 shares in the last quarter. Quarry LP bought a new stake in shares of Paycor HCM in the 2nd quarter worth $69,000. Covestor Ltd raised its stake in shares of Paycor HCM by 29.4% in the 3rd quarter. Covestor Ltd now owns 5,322 shares of the company’s stock worth $76,000 after buying an additional 1,210 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its stake in shares of Paycor HCM by 100.0% in the 2nd quarter. HighMark Wealth Management LLC now owns 7,730 shares of the company’s stock worth $98,000 after buying an additional 3,865 shares in the last quarter. Institutional investors own 36.76% 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.