Truist Financial Corp Cuts Stock Position in Paycor HCM, Inc. (NASDAQ:PYCR)

Truist Financial Corp lessened its stake in Paycor HCM, Inc. (NASDAQ:PYCR) by 56.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,150 shares of the company’s stock after selling 17,132 shares during the quarter. Truist Financial Corp’s holdings in Paycor HCM were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its stake in Paycor HCM by 52.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock worth $67,000 after purchasing an additional 1,178 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Paycor HCM by 12.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,695 shares of the company’s stock worth $296,000 after purchasing an additional 1,536 shares during the last quarter. Rhumbline Advisers boosted its stake in 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 last quarter. Fiera Capital Corp boosted its stake in Paycor HCM by 0.9% during the 2nd quarter. Fiera Capital Corp now owns 190,677 shares of the company’s stock worth $2,422,000 after purchasing an additional 1,629 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Paycor HCM by 10.6% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Paycor HCM Stock Performance

PYCR stock opened at $14.36 on Friday. The company’s 50 day moving average price is $13.85 and its 200 day moving average price is $13.98. Paycor HCM, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $25.19. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -35.02, a PEG ratio of 4.14 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 for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Paycor HCM had a negative net margin of 9.00% and a positive return on equity of 2.98%. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $161.14 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts forecast that Paycor HCM, Inc. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

PYCR has been the topic of several recent research reports. UBS Group lowered their target price on shares of Paycor HCM from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Citigroup lifted their target price on shares of Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Stephens assumed coverage on shares of Paycor HCM in a research report on Wednesday. They set an “overweight” rating and a $18.00 price target on the stock. BTIG Research lowered their price target on shares of Paycor HCM from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group lowered 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 report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Insider Activity at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 21,218 shares of the company’s stock, valued at $297,476.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.