Franklin Resources Inc. Has $23.22 Million Stake in Paycor HCM, Inc. (NASDAQ:PYCR)

Franklin Resources Inc. grew its stake in shares of Paycor HCM, Inc. (NASDAQ:PYCR - Free Report) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,734,109 shares of the company's stock after buying an additional 46,127 shares during the period. Franklin Resources Inc. owned approximately 0.97% of Paycor HCM worth $23,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Paycor HCM by 149.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company's stock worth $7,722,000 after acquiring an additional 364,025 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Paycor HCM by 1,234.9% during the second quarter. Marshall Wace LLP now owns 370,985 shares of the company's stock worth $4,712,000 after purchasing an additional 343,194 shares in the last quarter. ING Groep NV bought a new position in shares of Paycor HCM during the third quarter worth $4,615,000. Cubist Systematic Strategies LLC grew its holdings in shares of Paycor HCM by 207.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company's stock valued at $5,907,000 after buying an additional 313,851 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Paycor HCM by 1,047.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company's stock valued at $4,562,000 after buying an additional 293,487 shares in the last quarter. 36.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $20.00 target price on shares of Paycor HCM in a report on Friday, November 22nd. TD Cowen raised Paycor HCM from a "hold" rating to a "buy" rating and lifted their target price for the company from $18.00 to $22.00 in a research report on Monday, December 2nd. Jefferies Financial Group increased their price objective on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Citigroup raised their target price on shares of Paycor HCM from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Finally, Stephens initiated coverage on Paycor HCM in a research report on Wednesday, October 16th. They set an "overweight" rating and a $18.00 price target on the stock. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.56.

Insider Buying and Selling

In related news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total transaction of $52,196.46. Following the sale, the director now owns 21,218 shares in the company, valued at approximately $297,476.36. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.39% of the stock is owned by company insiders.

Paycor HCM Price Performance

Paycor HCM stock traded down $0.65 during mid-day trading on Friday, reaching $19.06. 2,423,047 shares of the company were exchanged, compared to its average volume of 942,906. The firm has a market cap of $3.42 billion, a PE ratio of -73.31, a PEG ratio of 4.79 and a beta of 0.51. The company has a fifty day simple moving average of $16.89 and a 200-day simple moving average of $14.38. Paycor HCM, Inc. has a 12 month low of $10.92 and a 12 month high of $22.14.

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.