Principal Financial Group Inc. Takes Position in Paycor HCM, Inc. (NASDAQ:PYCR)

Principal Financial Group Inc. bought a new stake in shares of Paycor HCM, Inc. (NASDAQ:PYCR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 67,811 shares of the company's stock, valued at approximately $962,000.

Several other hedge funds have also recently added to or reduced their stakes in PYCR. CWM LLC lifted its position in shares of Paycor HCM by 950.7% in the 2nd quarter. CWM LLC now owns 2,385 shares of the company's stock worth $30,000 after acquiring an additional 2,158 shares during the period. International Assets Investment Management LLC lifted its position in shares of Paycor HCM by 1,923.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,994 shares of the company's stock worth $42,000 after acquiring an additional 2,846 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Paycor HCM by 52.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company's stock worth $67,000 after acquiring an additional 1,178 shares during the period. Quarry LP bought a new stake in shares of Paycor HCM in the 2nd quarter worth approximately $69,000. Finally, HighMark Wealth Management LLC lifted its position in shares of Paycor HCM by 100.0% in the 2nd quarter. HighMark Wealth Management LLC now owns 7,730 shares of the company's stock worth $98,000 after acquiring an additional 3,865 shares during the period. Institutional investors own 36.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BTIG Research reduced their price objective on Paycor HCM from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group raised their price objective on Paycor HCM from $13.00 to $15.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Citigroup raised their price objective on Paycor HCM from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Stephens initiated coverage on Paycor HCM in a report on Wednesday, October 16th. They issued an "overweight" rating and a $18.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on Paycor HCM from $22.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Paycor HCM currently has an average rating of "Hold" and an average target price of $19.06.

Insider Activity at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total transaction of $52,196.46. Following the completion of the sale, the director now directly owns 21,218 shares of the company's stock, valued at $297,476.36. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.39% of the company's stock.

Paycor HCM Stock Up 2.0 %

PYCR stock traded up $0.35 during midday trading on Friday, reaching $17.48. 785,875 shares of the company's stock traded hands, compared to its average volume of 1,002,382. The company has a 50-day simple moving average of $14.88 and a two-hundred day simple moving average of $13.67. Paycor HCM, Inc. has a 1-year low of $10.92 and a 1-year high of $22.65. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -67.23, a PEG ratio of 4.20 and a beta of 0.42.

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.