Paycor HCM, Inc. (NASDAQ:PYCR) Sees Large Decrease in Short Interest

Paycor HCM, Inc. (NASDAQ:PYCR) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 5,210,000 shares, a decrease of 28.6% from the October 31st total of 7,300,000 shares. Based on an average daily trading volume, of 810,800 shares, the days-to-cover ratio is currently 6.4 days. Approximately 6.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PYCR. Stephens started coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Stifel Nicolaus dropped their price objective on shares of Paycor HCM from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. TD Cowen upped their price objective on shares of Paycor HCM from $15.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Paycor HCM has an average rating of “Hold” and a consensus price target of $19.31.

Paycor HCM Stock Down 0.4 %

Shares of PYCR stock traded down $0.07 during trading on Friday, hitting $18.06. The company had a trading volume of 548,693 shares, compared to its average volume of 937,255. The stock’s 50-day moving average is $15.22 and its two-hundred day moving average is $13.78. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -69.46, a price-to-earnings-growth ratio of 4.44 and a beta of 0.42. Paycor HCM has a 52 week low of $10.92 and a 52 week high of $22.65.

Insider Activity at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction dated 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 transaction, the director now owns 21,218 shares in the company, valued at approximately $297,476.36. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Stifel Financial Corp grew its position in Paycor HCM by 7.8% during the third quarter. Stifel Financial Corp now owns 13,498 shares of the company’s stock valued at $192,000 after acquiring an additional 981 shares during the last quarter. Advisors Asset Management Inc. grew its position in Paycor HCM by 52.4% during the first quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock valued at $67,000 after acquiring an additional 1,178 shares during the last quarter. Covestor Ltd grew its position in 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 acquiring an additional 1,210 shares during the last quarter. Rhumbline Advisers grew its position in Paycor HCM by 2.3% during the second quarter. Rhumbline Advisers now owns 67,959 shares of the company’s stock valued at $863,000 after acquiring an additional 1,560 shares during the last quarter. Finally, Fiera Capital Corp grew its position in Paycor HCM by 0.9% during the second quarter. Fiera Capital Corp now owns 190,677 shares of the company’s stock valued at $2,422,000 after acquiring an additional 1,629 shares during the last quarter. 36.76% of the stock is currently owned by institutional investors.

Paycor HCM Company 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.