Verition Fund Management LLC Trims Stake in Paycor HCM, Inc. (NASDAQ:PYCR)

Verition Fund Management LLC trimmed its holdings in shares of Paycor HCM, Inc. (NASDAQ:PYCR) by 41.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,070 shares of the company’s stock after selling 50,957 shares during the quarter. Verition Fund Management LLC’s holdings in Paycor HCM were worth $1,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Covestor Ltd increased its position in shares of 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 acquiring an additional 1,210 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Paycor HCM by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 67,959 shares of the company’s stock worth $863,000 after purchasing an additional 1,560 shares during the period. Fiera Capital Corp increased its holdings in Paycor HCM by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 190,677 shares of the company’s stock valued at $2,422,000 after purchasing an additional 1,629 shares during the last quarter. Raymond James & Associates raised its position in Paycor HCM by 0.6% in the third quarter. Raymond James & Associates now owns 328,827 shares of the company’s stock valued at $4,666,000 after purchasing an additional 1,834 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Paycor HCM by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 20,514 shares of the company’s stock worth $261,000 after purchasing an additional 1,964 shares in the last quarter. 36.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PYCR shares. The Goldman Sachs Group boosted their price objective on Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Paycor HCM in a research note on Friday, November 22nd. Truist Financial cut their target price on shares of Paycor HCM from $33.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, BMO Capital Markets raised their price target on shares of Paycor HCM from $15.00 to $19.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.56.

Insider Buying and Selling at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction dated 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 directly owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.39% of the stock is owned by company insiders.

Paycor HCM Price Performance

Shares of NASDAQ PYCR opened at $19.20 on Monday. The business has a 50-day moving average price of $15.78 and a 200 day moving average price of $13.97. The stock has a market cap of $3.45 billion, a PE ratio of -73.85, a price-to-earnings-growth ratio of 4.60 and a beta of 0.51. Paycor HCM, Inc. has a 52-week low of $10.92 and a 52-week 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.