Fmr LLC Raises Stock Holdings in Paycor HCM, Inc. (NASDAQ:PYCR)

Fmr LLC boosted its position in shares of Paycor HCM, Inc. (NASDAQ:PYCR) by 93.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 9,918 shares of the company’s stock after acquiring an additional 4,804 shares during the quarter. Fmr LLC’s holdings in Paycor HCM were worth $141,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Paycor HCM by 149.2% in the second 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 during the last quarter. Marshall Wace LLP increased its holdings in Paycor HCM by 1,234.9% in the 2nd quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock worth $4,712,000 after buying an additional 343,194 shares during the period. ING Groep NV purchased a new position in Paycor HCM during the 3rd quarter worth approximately $4,615,000. Cubist Systematic Strategies LLC lifted its stake in Paycor HCM by 207.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock valued at $5,907,000 after acquiring an additional 313,851 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Paycor HCM by 1,047.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company’s stock valued at $4,562,000 after acquiring an additional 293,487 shares during the last quarter. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Paycor HCM Price Performance

Shares of NASDAQ:PYCR opened at $19.06 on Monday. The business’s 50 day moving average price is $17.00 and its 200-day moving average price is $14.45. Paycor HCM, Inc. has a 1 year low of $10.92 and a 1 year high of $22.14. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of -73.31, a price-to-earnings-growth ratio of 4.79 and a beta of 0.51.

Insider Buying and Selling at Paycor HCM

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total transaction of $52,196.46. Following the completion of the transaction, the director now owns 21,218 shares of the company’s stock, valued at $297,476.36. This represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Paycor HCM in a report on Friday, November 22nd. Stephens assumed coverage on Paycor HCM in a research note on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective for the company. 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. Citigroup raised their target price on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets raised Paycor HCM from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $19.00 to $24.00 in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.56.

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.