Paycor HCM, Inc. (NASDAQ:PYCR) Short Interest Update

Paycor HCM, Inc. (NASDAQ:PYCR) experienced a notable rise in short interest during the month of March. As of March 15, the total short interest had increased to 5,140,000 shares, marking a substantial growth of 63.7% from the previous month's total of 3,140,000 shares. With an average daily trading volume of 2,830,000 shares, the current days-to-cover ratio stands at 1.8 days. This means that about 6.1% of Paycor's shares have been sold short.

Institutional Trading of Paycor HCM

Several institutional investors have recently adjusted their stakes in Paycor HCM. For instance, True Wealth Design LLC raised its holdings by an impressive 105.3% in the fourth quarter, now owning 1,357 shares worth $25,000 after adding 696 shares to their portfolio. Meanwhile, MCF Advisors LLC acquired a new position in Paycor HCM, worth approximately $27,000 in the same period.

Tower Research Capital LLC (TRC) significantly boosted its investment in Paycor HCM, increasing its position by 273.6% during the fourth quarter and now holding 3,164 shares valued at $59,000 after purchasing an additional 2,317 shares. Blue Trust Inc. also made substantial gains, lifting its stake by 869.3%, now owning 3,441 shares worth $64,000 after acquiring 3,086 additional shares.

Lastly, Sterling Capital Management LLC enhanced its position by 71.4%, accumulating 4,502 shares valued at $84,000 after buying 1,875 shares. Overall, hedge funds and institutional investors currently account for 36.76% of Paycor HCM's total shares.

Analyst Ratings Changes

Paycor HCM has received various updates from analysts recently. Mizuho increased its price target for the company from $20.00 to $22.50 while maintaining a “neutral” rating as of January 8. On the contrary, JPMorgan Chase & Co. has reiterated an “underweight” rating with a target price of $22.50, raising it from a previous $21.00 on January 22.

Baird lowered Paycor HCM's rating from “strong buy” to “hold” on February 7, while Citizens JMP downgraded it from “strong buy” to “hold” on January 9. Additionally, Needham & Company LLC altered their rating from “moderate buy” to “hold” on January 8. Currently, one analyst has a sell rating on the stock, sixteen hold ratings, and two buy ratings, resulting in an average rating of “Hold” and a consensus price target of $21.53 according to MarketBeat.com data.

Paycor HCM Stock Performance

On Friday, Paycor HCM shares fell by $0.02, bringing the stock price to $22.43. A total of 401,527 shares traded hands, which is lower than the average volume of 1,485,812 shares. The company boasts a market capitalization of $4.08 billion, with a PE ratio of -186.90 and a P/E/G ratio of 3.84. Paycor HCM's stock has fluctuated within a 52-week range from a low of $10.92 to a high of $23.49. The 50-day simple moving average is currently at $22.26, while the 200-day moving average is $18.78.

Paycor HCM most recently reported its earnings on February 5, revealing an earnings per share (EPS) of $0.07, which fell short of analysts' average estimate of $0.11 by $0.04. The company recorded a return on equity of 4.28% alongside a negative net margin of 3.06%. Analysts predict that Paycor HCM will achieve earnings of $0.30 per share for the ongoing year.

About Paycor HCM

Paycor HCM, Inc., along with its subsidiaries, specializes in providing software-as-a-service (SaaS) human capital management (HCM) solutions to small and medium-sized businesses primarily across the United States, offering a cloud-native platform that addresses the complete people management requirements of SMB leaders.

Paycor, Investors, Stocks