Allspring Global Investments Holdings LLC Sells 851,704 Shares of Paycor HCM, Inc. (NASDAQ:PYCR)

Allspring Global Investments Holdings LLC trimmed its holdings in Paycor HCM, Inc. (NASDAQ:PYCR - Free Report) by 27.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,216,388 shares of the company's stock after selling 851,704 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.25% of Paycor HCM worth $47,852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in shares of Paycor HCM by 1,824.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,195 shares of the company's stock worth $69,000 after purchasing an additional 3,029 shares during the period. Riverbridge Partners LLC lifted its stake in Paycor HCM by 49.4% during the fourth quarter. Riverbridge Partners LLC now owns 1,885,899 shares of the company's stock valued at $40,717,000 after buying an additional 623,998 shares in the last quarter. Trust Point Inc. purchased a new stake in Paycor HCM during the fourth quarter valued at about $352,000. Fifth Third Bancorp boosted its holdings in shares of Paycor HCM by 1,611.7% in the fourth quarter. Fifth Third Bancorp now owns 408,173 shares of the company's stock worth $8,812,000 after buying an additional 384,327 shares during the period. Finally, Raymond James & Associates increased its position in shares of Paycor HCM by 24.1% in the fourth quarter. Raymond James & Associates now owns 226,586 shares of the company's stock worth $4,892,000 after acquiring an additional 44,076 shares in the last quarter. Institutional investors own 36.76% of the company's stock.

Paycor HCM Stock Performance

Shares of Paycor HCM stock traded down $0.17 during midday trading on Friday, reaching $17.83. 522,751 shares of the company's stock traded hands, compared to its average volume of 712,504. Paycor HCM, Inc. has a 52 week low of $17.13 and a 52 week high of $27.50. The company's 50 day simple moving average is $19.74 and its 200 day simple moving average is $20.76. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -37.50, a price-to-earnings-growth ratio of 6.03 and a beta of 0.50.

Paycor HCM (NASDAQ:PYCR - Get Free Report) last posted its 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). Paycor HCM had a negative net margin of 13.82% and a positive return on equity of 1.28%. The company had revenue of $159.54 million for the quarter, compared to the consensus estimate of $155.49 million. As a group, equities research analysts predict that Paycor HCM, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PYCR shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $42.00 price objective on shares of Paycor HCM in a research note on Monday, March 18th. BTIG Research started coverage on Paycor HCM in a research report on Tuesday, February 6th. They issued a "buy" rating and a $26.00 target price for the company. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $22.00 price target (down previously from $27.00) on shares of Paycor HCM in a report on Friday, January 5th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.35.

Insider Activity at Paycor HCM

In other Paycor HCM news, Director Jonathan Corr sold 1,508 shares of the company's stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $19.66, for a total transaction of $29,647.28. Following the completion of the sale, the director now owns 19,988 shares of the company's stock, valued at $392,964.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Alice L. Geene sold 1,577 shares of the firm's stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $18.39, for a total value of $29,001.03. Following the sale, the insider now directly owns 107,581 shares of the company's stock, valued at $1,978,414.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan Corr sold 1,508 shares of the business's stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $19.66, for a total value of $29,647.28. Following the transaction, the director now directly owns 19,988 shares of the company's stock, valued at approximately $392,964.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,021 shares of company stock valued at $115,019. Corporate insiders own 0.39% 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.