Granite Investment Partners LLC Trims Holdings in Paycor HCM, Inc. (NASDAQ:PYCR)

Granite Investment Partners LLC cut its holdings in Paycor HCM, Inc. (NASDAQ:PYCR) by 17.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,300,352 shares of the company’s stock after selling 267,779 shares during the quarter. Granite Investment Partners LLC owned approximately 0.73% of Paycor HCM worth $16,514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYCR. Conestoga Capital Advisors LLC boosted its stake in Paycor HCM by 38.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 6,657,141 shares of the company’s stock worth $129,415,000 after purchasing an additional 1,864,020 shares in the last quarter. Vanguard Group Inc. boosted its stake in Paycor HCM by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company’s stock worth $133,844,000 after purchasing an additional 710,370 shares in the last quarter. Norges Bank bought a new position in Paycor HCM in the 4th quarter worth about $15,054,000. Dimensional Fund Advisors LP boosted its stake in Paycor HCM by 54.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,201,807 shares of the company’s stock worth $25,948,000 after purchasing an additional 422,785 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Paycor HCM by 149.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock worth $7,722,000 after purchasing an additional 364,025 shares in the last quarter. 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. Needham & Company LLC dropped their price target on shares of Paycor HCM from $42.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $20.00 price target on shares of Paycor HCM in a research note on Tuesday, June 11th. Citigroup lowered their target price on shares of Paycor HCM from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Jefferies Financial Group lowered their target price on shares of Paycor HCM from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Stifel Nicolaus lowered their target price on shares of Paycor HCM from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.27.

Paycor HCM Stock Up 5.5 %

Shares of NASDAQ:PYCR opened at $14.47 on Friday. The firm’s 50 day moving average price is $13.26 and its 200-day moving average price is $14.85. Paycor HCM, Inc. has a twelve month low of $10.92 and a twelve month high of $25.48. The stock has a market capitalization of $2.59 billion, a PE ratio of -35.29, a price-to-earnings-growth ratio of 4.33 and a beta of 0.44.

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

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.