Short Interest in Paycor HCM, Inc. (NASDAQ:PYCR) Drops By 16.5%

Paycor HCM, Inc. (NASDAQ:PYCR) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 4,350,000 shares, a decrease of 16.5% from the November 15th total of 5,210,000 shares. Based on an average trading volume of 843,100 shares, the days-to-cover ratio is presently 5.2 days. Currently, 5.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PYCR. Mizuho upped their price objective on shares of Paycor HCM from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday. Jefferies Financial Group raised their price target on Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Paycor HCM in a research note on Friday, November 22nd. Citigroup lifted their target price on shares of Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets raised shares of Paycor HCM from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $19.00 to $24.00 in a research report on Thursday. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycor HCM currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Insider Transactions at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the business’s stock in a transaction that occurred 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 owns 21,218 shares in the company, valued at approximately $297,476.36. The trade was a 14.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PYCR. CWM LLC increased its holdings in shares of Paycor HCM by 950.7% in the 2nd quarter. CWM LLC now owns 2,385 shares of the company’s stock valued at $30,000 after purchasing an additional 2,158 shares in the last quarter. SG Americas Securities LLC increased its holdings in Paycor HCM by 226.5% in the second quarter. SG Americas Securities LLC now owns 136,159 shares of the company’s stock valued at $1,729,000 after buying an additional 94,454 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Paycor HCM by 149.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock valued at $7,722,000 after acquiring an additional 364,025 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of Paycor HCM by 2.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,841,396 shares of the company’s stock worth $86,886,000 after acquiring an additional 184,255 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Paycor HCM by 72.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,241 shares of the company’s stock worth $244,000 after acquiring an additional 8,094 shares during the period. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Paycor HCM Trading Down 1.3 %

Shares of PYCR stock opened at $19.98 on Monday. Paycor HCM has a 12-month low of $10.92 and a 12-month high of $22.65. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -76.85, a price-to-earnings-growth ratio of 4.79 and a beta of 0.51. The stock has a 50 day simple moving average of $16.35 and a 200-day simple moving average of $14.20.

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.