Paycor HCM (NASDAQ:PYCR) Sees Strong Trading Volume – Still a Buy?

Shares of Paycor HCM, Inc. (NASDAQ:PYCR) saw an uptick in trading volume on Wednesday . 3,646,912 shares traded hands during trading, an increase of 144% from the previous session’s volume of 1,493,296 shares.The stock last traded at $22.50 and had previously closed at $22.47.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PYCR. Citigroup upped their target price on shares of Paycor HCM from $21.00 to $22.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Truist Financial reaffirmed a “hold” rating and set a $22.50 target price (up previously from $20.00) on shares of Paycor HCM in a report on Thursday, January 16th. Stephens reiterated an “equal weight” rating and issued a $22.50 price target (up from $20.00) on shares of Paycor HCM in a report on Friday, January 10th. Raymond James cut Paycor HCM from a “moderate buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC lowered shares of Paycor HCM from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Paycor HCM currently has a consensus rating of “Hold” and a consensus target price of $21.53.

Paycor HCM Price Performance

The company has a market cap of $4.09 billion, a P/E ratio of -187.48, a PEG ratio of 3.84 and a beta of 0.53. The stock has a fifty day moving average price of $22.27 and a two-hundred day moving average price of $18.97.

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

Hedge Funds Weigh In On Paycor HCM

Several large investors have recently bought and sold shares of PYCR. Principal Financial Group Inc. bought a new position in shares of Paycor HCM in the third quarter valued at approximately $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Paycor HCM by 16.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,115 shares of the company’s stock valued at $3,450,000 after purchasing an additional 34,336 shares during the period. Franklin Resources Inc. increased its position in shares of Paycor HCM by 2.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock valued at $23,220,000 after purchasing an additional 46,127 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Paycor HCM by 28.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 488,779 shares of the company’s stock worth $6,936,000 after buying an additional 108,602 shares in the last quarter. Finally, Barclays PLC grew its holdings in Paycor HCM by 50.8% during the third quarter. Barclays PLC now owns 23,991 shares of the company’s stock worth $340,000 after acquiring an additional 8,079 shares during the period. Institutional investors and hedge funds own 36.76% of the company’s stock.

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.