ING Groep NV Takes $4.62 Million Position in Paycor HCM, Inc. (NASDAQ:PYCR)

ING Groep NV bought a new stake in Paycor HCM, Inc. (NASDAQ:PYCR) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 325,200 shares of the company’s stock, valued at approximately $4,615,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC boosted its stake in shares of Paycor HCM by 950.7% during the 2nd quarter. CWM LLC now owns 2,385 shares of the company’s stock worth $30,000 after acquiring an additional 2,158 shares during the last quarter. International Assets Investment Management LLC increased its position in Paycor HCM by 1,923.0% in the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock worth $42,000 after buying an additional 2,846 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Paycor HCM by 52.4% in the first quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock worth $67,000 after buying an additional 1,178 shares during the period. Quarry LP purchased a new position in shares of Paycor HCM during the 2nd quarter valued at about $69,000. Finally, Covestor Ltd grew its stake in shares of Paycor HCM by 29.4% during the 3rd 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 period. 36.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BTIG Research decreased their target price on shares of Paycor HCM from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. TD Cowen lifted their target price on shares of Paycor HCM from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Stifel Nicolaus cut their price target on Paycor HCM from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Stephens initiated coverage on Paycor HCM in a report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.06.

Insider Transactions at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total value of $52,196.46. Following the sale, the director now owns 21,218 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Insiders own 1.39% of the company’s stock.

Paycor HCM Price Performance

Shares of PYCR opened at $16.40 on Friday. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -63.08, a price-to-earnings-growth ratio of 4.88 and a beta of 0.42. Paycor HCM, Inc. has a 1 year low of $10.92 and a 1 year high of $22.65. The business’s 50 day simple moving average is $14.61 and its 200-day simple moving average is $13.74.

Paycor HCM (NASDAQ:PYCR) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Paycor HCM had a negative net margin of 6.72% and a positive return on equity of 3.41%. The company had revenue of $164.80 million for the quarter, compared to the consensus estimate of $161.14 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Paycor HCM’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts expect that Paycor HCM, Inc. will post 0.25 earnings per share for the current year.

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.