Verition Fund Management LLC Buys New Position in Paycor HCM, Inc. (NASDAQ:PYCR)

Verition Fund Management LLC bought a new stake in shares of Paycor HCM, Inc. (NASDAQ:PYCR – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,666 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds have also recently added to or reduced their stakes in PYCR. MetLife Investment Management LLC bought a new stake in Paycor HCM during the 1st quarter valued at approximately $72,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Paycor HCM in the 2nd quarter worth approximately $106,000. Shell Asset Management Co. bought a new stake in shares of Paycor HCM in the 2nd quarter worth approximately $128,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Paycor HCM in the 3rd quarter worth approximately $157,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Paycor HCM in the 2nd quarter worth approximately $203,000. Institutional investors own 32.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PYCR. Deutsche Bank Aktiengesellschaft reduced their price objective on Paycor HCM from $36.00 to $29.00 in a research report on Monday, January 23rd. Moffett Nathanson began coverage on Paycor HCM in a research report on Monday, January 9th. They issued a “market perform” rating and a $28.00 price objective for the company. Raymond James reduced their price objective on Paycor HCM from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, February 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of Paycor HCM in a research report on Thursday, March 2nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.77.

Insiders Place Their Bets

In other news, insider Alice L. Geene sold 1,147 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $24.22, for a total value of $27,780.34. Following the completion of the sale, the insider now directly owns 57,956 shares in the company, valued at $1,403,694.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Jonathan Corr sold 1,508 shares of the business’s stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $23.68, for a total value of $35,709.44. Following the completion of the transaction, the director now owns 24,326 shares in the company, valued at approximately $576,039.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alice L. Geene sold 1,147 shares of the company’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $24.22, for a total value of $27,780.34. Following the transaction, the insider now directly owns 57,956 shares in the company, valued at approximately $1,403,694.32. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Paycor HCM Price Performance

NASDAQ PYCR opened at $23.80 on Friday. The stock’s 50 day simple moving average is $24.93 and its 200 day simple moving average is $27.15. Paycor HCM, Inc. has a one year low of $20.14 and a one year high of $34.95. The firm has a market cap of $4.20 billion, a PE ratio of -41.75 and a beta of 0.43.

About Paycor HCM

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Paycor HCM, Inc, through 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. The company's SaaS based people management products include Cor HCM, a complete suite of HCM tools spanning HR, onboarding, payroll, compensation management, employee surveys, expenses, and reporting and analytics; Workforce Management, a solution with flexible time entry, overtime calculations, and scheduling capabilities with real-time payroll synchronization; Benefits Administration, a decision support solution to help leaders to streamline and optimize company's benefits administration; and Talent Management, an integrated compensation and performance management solution.