Principal Financial Group Inc. Invests $962,000 in Paycor HCM, Inc. (NASDAQ:PYCR)

Principal Financial Group Inc. purchased a new position in Paycor HCM, Inc. (NASDAQ:PYCR) during the 3rd quarter, HoldingsChannel reports. The fund purchased 67,811 shares of the company’s stock, valued at approximately $962,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its stake in 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 purchasing an additional 2,846 shares in the last quarter. Quarry LP acquired a new position in Paycor HCM during the second quarter worth $69,000. Covestor Ltd grew its holdings in Paycor HCM by 29.4% in the 3rd quarter. Covestor Ltd now owns 5,322 shares of the company’s stock valued at $76,000 after buying an additional 1,210 shares in the last quarter. FMR LLC increased its stake in shares of Paycor HCM by 93.9% in the 3rd quarter. FMR LLC now owns 9,918 shares of the company’s stock worth $141,000 after acquiring an additional 4,804 shares during the last quarter. Finally, Octavia Wealth Advisors LLC purchased a new position in shares of Paycor HCM during the 3rd quarter worth $143,000. 36.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM 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. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.39% of the company’s stock.

Paycor HCM Trading Up 1.1 %

NASDAQ:PYCR opened at $18.54 on Friday. The stock has a fifty day moving average price of $17.96 and a 200 day moving average price of $14.94. Paycor HCM, Inc. has a 12-month low of $10.92 and a 12-month high of $21.72. The firm has a market cap of $3.33 billion, a PE ratio of -71.31, a price-to-earnings-growth ratio of 4.79 and a beta of 0.51.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PYCR. Mizuho lifted their target price on shares of Paycor HCM from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their price objective on Paycor HCM from $13.00 to $15.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Paycor HCM in a research note on Friday, November 22nd. Stephens initiated coverage on Paycor HCM in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price target on the stock. Finally, Citigroup raised their price objective on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Paycor HCM has an average rating of “Moderate Buy” and a consensus target price of $20.56.

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.