Connor Clark & Lunn Investment Management Ltd. Purchases 298,508 Shares of Paycor HCM, Inc. (NASDAQ:PYCR)

Connor Clark & Lunn Investment Management Ltd. increased its position in Paycor HCM, Inc. (NASDAQ:PYCR) by 92.8% during the fourth quarter, Holdings Channel reports. The firm owned 620,012 shares of the company’s stock after buying an additional 298,508 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Paycor HCM were worth $11,514,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. HighTower Advisors LLC bought a new stake in shares of Paycor HCM in the 4th quarter valued at about $190,000. Wealthfront Advisers LLC acquired a new stake in Paycor HCM during the fourth quarter worth approximately $860,000. Raymond James Financial Inc. acquired a new stake in Paycor HCM during the fourth quarter worth approximately $8,216,000. Charles Schwab Investment Management Inc. lifted its position in Paycor HCM by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 495,259 shares of the company’s stock worth $9,197,000 after acquiring an additional 6,480 shares during the last quarter. Finally, Hardy Reed LLC acquired a new stake in Paycor HCM during the fourth quarter worth approximately $259,000. 36.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PYCR shares. Stifel Nicolaus raised their price objective on shares of Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Baird R W downgraded shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 7th. Robert W. Baird restated a “neutral” rating and set a $22.50 price objective (down from $28.00) on shares of Paycor HCM in a research report on Friday, February 7th. Citizens Jmp downgraded shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Mizuho raised their price objective on shares of Paycor HCM from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.53.

Paycor HCM Price Performance

Shares of NASDAQ:PYCR opened at $22.37 on Friday. The company’s 50 day simple moving average is $22.21 and its 200 day simple moving average is $18.21. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -186.40, a price-to-earnings-growth ratio of 3.84 and a beta of 0.53. Paycor HCM, Inc. has a 1 year low of $10.92 and a 1 year high of $23.49.

Paycor HCM (NASDAQ:PYCR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Paycor HCM had a negative net margin of 3.06% and a positive return on equity of 4.28%. As a group, analysts anticipate that Paycor HCM, Inc. will post 0.3 EPS for the current fiscal year.

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.