Short Interest in Paycor HCM, Inc. (NASDAQ:PYCR) Grows By 35.9%

Paycor HCM, Inc. (NASDAQ:PYCR) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,140,000 shares, an increase of 35.9% from the February 13th total of 2,310,000 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average daily volume of 2,750,000 shares, the days-to-cover ratio is presently 1.1 days.

Paycor HCM Price Performance

Shares of Paycor HCM stock traded up $0.02 during trading hours on Tuesday, reaching $22.40. The company had a trading volume of 198,102 shares, compared to its average volume of 1,430,131. Paycor HCM has a one year low of $10.92 and a one year high of $23.49. The business has a fifty day simple moving average of $22.20 and a 200 day simple moving average of $18.32. The firm has a market cap of $4.07 billion, a PE ratio of -186.61, a price-to-earnings-growth ratio of 3.84 and a beta of 0.53.

Paycor HCM (NASDAQ:PYCR) last posted its quarterly earnings data 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 negative net margin of 3.06% and a positive return on equity of 4.28%. On average, research analysts forecast that Paycor HCM will post 0.3 EPS for the current year.

Wall Street Analyst Weigh In

PYCR has been the subject of several analyst reports. Raymond James downgraded Paycor HCM from a “moderate buy” rating to a “hold” rating in a research note on Monday, January 13th. Truist Financial reissued a “hold” rating and issued a $22.50 price objective (up from $20.00) on shares of Paycor HCM in a research note on Thursday, January 16th. Needham & Company LLC downgraded Paycor HCM from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Stifel Nicolaus increased their price target on Paycor HCM from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $22.50 price target (up from $21.00) on shares of Paycor HCM in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.53.

Institutional Investors Weigh In On Paycor HCM

Several large investors have recently added to or reduced their stakes in PYCR. Conestoga Capital Advisors LLC lifted its stake in Paycor HCM by 23.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 6,934,428 shares of the company’s stock worth $128,772,000 after purchasing an additional 1,333,170 shares during the last quarter. Next Century Growth Investors LLC bought a new stake in Paycor HCM during the fourth quarter worth about $24,106,000. Norges Bank bought a new stake in Paycor HCM during the fourth quarter worth about $18,485,000. Allspring Global Investments Holdings LLC lifted its stake in Paycor HCM by 1,738.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 573,870 shares of the company’s stock worth $10,657,000 after purchasing an additional 542,659 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Paycor HCM during the fourth quarter worth about $9,116,000. Institutional investors 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.