Short Interest in Paycor HCM, Inc. (NASDAQ:PYCR) Grows By 63.7%

Paycor HCM, Inc. (NASDAQ:PYCR) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 5,140,000 shares, an increase of 63.7% from the February 28th total of 3,140,000 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily volume of 2,830,000 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Paycor HCM by 28.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 488,779 shares of the company’s stock valued at $6,936,000 after acquiring an additional 108,602 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Paycor HCM in the third quarter worth approximately $331,000. FMR LLC lifted its holdings in shares of Paycor HCM by 93.9% in the third quarter. FMR LLC now owns 9,918 shares of the company’s stock valued at $141,000 after purchasing an additional 4,804 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Paycor HCM by 16.4% during the third 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 buying an additional 34,336 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Paycor HCM by 8.1% during the third quarter. Rockefeller Capital Management L.P. now owns 1,161,032 shares of the company’s stock worth $16,478,000 after buying an additional 86,745 shares in the last quarter. 36.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PYCR shares. Raymond James downgraded shares of Paycor HCM from a “moderate buy” rating to a “hold” rating in a report on Monday, January 13th. Citigroup increased their target price on Paycor HCM from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Stifel Nicolaus upped their price objective on Paycor HCM from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $22.50 target price (up from $21.00) on shares of Paycor HCM in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $22.50 price target (down from $24.00) on shares of Paycor HCM in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paycor HCM presently has a consensus rating of “Hold” and a consensus target price of $21.53.

Paycor HCM Price Performance

Shares of PYCR stock traded up $0.03 on Monday, reaching $22.46. 509,725 shares of the company were exchanged, compared to its average volume of 1,482,044. Paycor HCM has a one year low of $10.92 and a one year high of $23.49. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -187.11, a PEG ratio of 3.84 and a beta of 0.53. The company has a 50-day moving average of $22.26 and a 200-day moving average of $18.85.

Paycor HCM (NASDAQ:PYCR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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, sell-side analysts predict that Paycor HCM will post 0.3 EPS for the current 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.