Geode Capital Management LLC Buys 132,662 Shares of Paycor HCM, Inc. (NASDAQ:PYCR)

Geode Capital Management LLC boosted its stake in Paycor HCM, Inc. (NASDAQ:PYCR) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,354,846 shares of the company’s stock after purchasing an additional 132,662 shares during the period. Geode Capital Management LLC’s holdings in Paycor HCM were worth $19,231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PYCR. Stifel Financial Corp grew its position in Paycor HCM by 7.8% during the 3rd quarter. Stifel Financial Corp now owns 13,498 shares of the company’s stock worth $192,000 after acquiring an additional 981 shares during the last quarter. Covestor Ltd boosted its stake 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 purchasing an additional 1,210 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Paycor HCM by 2.3% during the second 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 last quarter. Fiera Capital Corp increased its stake in shares of Paycor HCM by 0.9% in the second quarter. Fiera Capital Corp now owns 190,677 shares of the company’s stock valued at $2,422,000 after buying an additional 1,629 shares during the period. Finally, Raymond James & Associates raised its holdings in Paycor HCM by 0.6% in the 3rd quarter. Raymond James & Associates now owns 328,827 shares of the company’s stock valued at $4,666,000 after buying an additional 1,834 shares during the last quarter. Institutional investors and hedge funds own 36.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PYCR. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Paycor HCM in a research note on Friday, November 22nd. The Goldman Sachs Group raised their target price on Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. TD Cowen raised Paycor HCM from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $22.00 in a report on Monday, December 2nd. 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 note on Tuesday, October 22nd. Finally, Stephens initiated coverage on Paycor HCM in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.56.

Insider Activity

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was 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 $297,476.36. This trade represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.39% of the stock is currently owned by corporate insiders.

Paycor HCM Stock Performance

Paycor HCM stock opened at $19.07 on Friday. The stock has a market cap of $3.43 billion, a PE ratio of -73.35, a price-to-earnings-growth ratio of 4.79 and a beta of 0.51. Paycor HCM, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $21.99. The firm’s 50-day simple moving average is $17.53 and its 200 day simple moving average is $14.69.

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.