Allspring Global Investments Holdings LLC Boosts Stock Holdings in Paycor HCM, Inc. (NASDAQ:PYCR)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Paycor HCM, Inc. (NASDAQ:PYCR) by 9.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,429,701 shares of the company’s stock after buying an additional 213,313 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.36% of Paycor HCM worth $47,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PYCR. Renaissance Capital LLC lifted its position in shares of Paycor HCM by 3.0% during the first quarter. Renaissance Capital LLC now owns 42,319 shares of the company’s stock worth $823,000 after acquiring an additional 1,230 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Paycor HCM by 12.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,695 shares of the company’s stock worth $296,000 after purchasing an additional 1,536 shares during the period. Vanguard Group Inc. boosted its stake in Paycor HCM by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 6,174,610 shares of the company’s stock worth $133,310,000 after purchasing an additional 700,499 shares during the period. Virtu Financial LLC purchased a new position in Paycor HCM during the 4th quarter valued at about $270,000. Finally, Bullseye Asset Management LLC increased its position in shares of Paycor HCM by 17.9% during the fourth quarter. Bullseye Asset Management LLC now owns 98,924 shares of the company’s stock valued at $2,135,000 after buying an additional 15,000 shares during the period. 36.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PYCR has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Paycor HCM in a research note on Thursday, May 9th. JMP Securities lowered their price objective on Paycor HCM from $32.00 to $30.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 9th. BMO Capital Markets restated a “market perform” rating and set a $20.00 target price on shares of Paycor HCM in a research report on Tuesday, June 11th. Stifel Nicolaus decreased their target price on Paycor HCM from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group dropped their price target on Paycor HCM from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.56.

Paycor HCM Stock Performance

PYCR opened at $12.84 on Thursday. Paycor HCM, Inc. has a 12 month low of $10.92 and a 12 month high of $27.50. The business’s 50-day moving average price is $13.71 and its 200-day moving average price is $17.65. The company has a market cap of $2.29 billion, a P/E ratio of -31.32, a P/E/G ratio of 3.42 and a beta of 0.41.

Paycor HCM (NASDAQ:PYCR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Paycor HCM had a positive return on equity of 2.09% and a negative net margin of 11.11%. The business had revenue of $187.02 million for the quarter, compared to analysts’ expectations of $186.35 million. Equities research analysts forecast that Paycor HCM, Inc. will post 0.19 earnings per share for the current fiscal year.

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.