Granite Investment Partners LLC Sells 96,300 Shares of Paycor HCM, Inc. (NASDAQ:PYCR)

Granite Investment Partners LLC decreased its position in Paycor HCM, Inc. (NASDAQ:PYCR) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,522,098 shares of the company’s stock after selling 96,300 shares during the quarter. Paycor HCM makes up approximately 1.2% of Granite Investment Partners LLC’s portfolio, making the stock its 16th largest position. Granite Investment Partners LLC owned about 0.84% of Paycor HCM worth $28,265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in Paycor HCM during the third quarter worth about $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Paycor HCM by 16.4% in 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 worth $3,450,000 after buying an additional 34,336 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Paycor HCM by 2.7% in the third quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock valued at $23,220,000 after acquiring an additional 46,127 shares in the last quarter. Norges Bank purchased a new stake in shares of Paycor HCM during the fourth quarter valued at approximately $18,485,000. Finally, Barclays PLC lifted 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. Hedge funds and other institutional investors own 36.76% of the company’s stock.

Paycor HCM Stock Performance

Shares of PYCR opened at $22.49 on Friday. Paycor HCM, Inc. has a 52-week low of $10.92 and a 52-week high of $23.49. The stock’s 50-day simple moving average is $22.33 and its 200 day simple moving average is $19.49. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of -187.40, a price-to-earnings-growth ratio of 3.84 and a beta of 0.50.

Paycor HCM (NASDAQ:PYCR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts forecast that Paycor HCM, Inc. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $22.50 price objective (up previously from $21.00) on shares of Paycor HCM in a research note on Wednesday, January 22nd. Truist Financial restated a “hold” rating and set a $22.50 price target (up previously from $20.00) on shares of Paycor HCM in a research report on Thursday, January 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.50 price objective (down previously from $24.00) on shares of Paycor HCM in a research report on Wednesday, January 8th. Mizuho increased their target price on shares of Paycor HCM from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, TD Cowen cut shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a report on Monday, January 20th. One 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.53.

Paycor HCM 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.