Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Paycor HCM, Inc. (NASDAQ:PYCR)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Paycor HCM, Inc. (NASDAQ:PYCR) by 1,047.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 321,504 shares of the company’s stock after purchasing an additional 293,487 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Paycor HCM were worth $4,562,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PYCR. Natixis Advisors LLC lifted its position in shares of Paycor HCM by 47.5% during the 3rd quarter. Natixis Advisors LLC now owns 61,456 shares of the company’s stock worth $872,000 after buying an additional 19,803 shares in the last quarter. ING Groep NV purchased a new stake in shares of Paycor HCM during the third quarter valued at approximately $4,615,000. GSA Capital Partners LLP lifted its holdings in Paycor HCM by 75.6% during the third quarter. GSA Capital Partners LLP now owns 87,529 shares of the company’s stock worth $1,242,000 after acquiring an additional 37,691 shares during the period. Covestor Ltd boosted its position in Paycor HCM by 29.4% in the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock worth $76,000 after purchasing an additional 1,210 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Paycor HCM in the 3rd quarter valued at $962,000. 36.76% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jeremy Rishel sold 3,723 shares of the company’s 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.39% of the stock is owned by company insiders.

Paycor HCM Stock Up 2.0 %

PYCR stock opened at $17.48 on Friday. The stock has a 50-day simple moving average of $14.88 and a two-hundred day simple moving average of $13.69. Paycor HCM, Inc. has a twelve month low of $10.92 and a twelve month high of $22.65. The firm has a market capitalization of $3.14 billion, a PE ratio of -67.23, a PEG ratio of 4.20 and a beta of 0.42.

Wall Street Analyst Weigh In

PYCR has been the topic of a number of recent analyst reports. BTIG Research lowered their target price on Paycor HCM from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Truist Financial dropped their target price on shares of Paycor HCM from $33.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Stephens assumed coverage on Paycor HCM in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price objective on the stock. Finally, Jefferies Financial Group raised their target price on Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.06.

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.