Short Interest in Paycor HCM, Inc. (NASDAQ:PYCR) Declines By 22.4%

Paycor HCM, Inc. (NASDAQ:PYCR - Get Free Report) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 7,160,000 shares, a drop of 22.4% from the April 15th total of 9,230,000 shares. Currently, 8.9% of the shares of the stock are sold short. Based on an average trading volume of 761,600 shares, the days-to-cover ratio is presently 9.4 days.

Paycor HCM Price Performance

PYCR traded down $0.26 on Friday, hitting $14.50. The company had a trading volume of 1,769,797 shares, compared to its average volume of 954,313. Paycor HCM has a 52-week low of $13.92 and a 52-week high of $27.50. The stock has a fifty day simple moving average of $18.31 and a 200-day simple moving average of $19.74. The firm has a market capitalization of $2.58 billion, a P/E ratio of -35.36, a P/E/G ratio of 4.92 and a beta of 0.54.

Paycor HCM (NASDAQ:PYCR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $159.54 million during the quarter, compared to analysts' expectations of $155.49 million. Paycor HCM had a positive return on equity of 2.10% and a negative net margin of 11.11%. Equities research analysts expect that Paycor HCM will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PYCR shares. Mizuho lowered their price target on Paycor HCM from $22.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on Paycor HCM from $21.00 to $19.00 and set a "hold" rating for the company in a research note on Thursday. BTIG Research initiated coverage on shares of Paycor HCM in a report on Tuesday, February 6th. They issued a "buy" rating and a $26.00 price objective for the company. BMO Capital Markets reduced their target price on shares of Paycor HCM from $23.00 to $20.00 and set a "market perform" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus lowered their price target on shares of Paycor HCM from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $25.25.

Insider Activity

In other news, insider Alice L. Geene sold 1,577 shares of the company's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.39, for a total value of $29,001.03. Following the transaction, the insider now owns 107,581 shares of the company's stock, valued at $1,978,414.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Paycor HCM news, Director Jonathan Corr sold 1,508 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.30, for a total value of $27,596.40. Following the completion of the transaction, the director now owns 18,480 shares of the company's stock, valued at approximately $338,184. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alice L. Geene sold 1,577 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.39, for a total transaction of $29,001.03. Following the completion of the transaction, the insider now directly owns 107,581 shares in the company, valued at approximately $1,978,414.59. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Institutional Trading of Paycor HCM

A number of hedge funds and other institutional investors have recently modified their holdings of PYCR. Vanguard Group Inc. boosted its stake in Paycor HCM by 11.5% during the first quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company's stock worth $133,844,000 after acquiring an additional 710,370 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Paycor HCM in the 1st quarter worth approximately $538,000. Swiss National Bank increased its position in Paycor HCM by 14.8% during the 1st quarter. Swiss National Bank now owns 140,200 shares of the company's stock valued at $2,725,000 after buying an additional 18,100 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Paycor HCM by 0.3% during the first quarter. TimesSquare Capital Management LLC now owns 709,651 shares of the company's stock valued at $13,796,000 after buying an additional 2,239 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Paycor HCM by 16.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 20,616 shares of the company's stock worth $401,000 after acquiring an additional 2,917 shares in the last quarter. 36.76% of the stock is owned by hedge funds and other institutional investors.

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.