Principal Financial Group Inc. Invests $962,000 in Paycor HCM, Inc. (NASDAQ:PYCR)

Principal Financial Group Inc. bought a new stake in shares of Paycor HCM, Inc. (NASDAQ:PYCR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 67,811 shares of the company’s stock, valued at approximately $962,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of Paycor HCM by 149.2% during the second 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. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paycor HCM by 72.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,241 shares of the company’s stock worth $244,000 after purchasing an additional 8,094 shares during the last quarter. Rhumbline Advisers increased its stake in Paycor HCM by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 67,959 shares of the company’s stock valued at $863,000 after purchasing an additional 1,560 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Paycor HCM by 451.3% in the second quarter. Quest Partners LLC now owns 35,892 shares of the company’s stock worth $456,000 after buying an additional 29,381 shares during the last quarter. Finally, Choreo LLC acquired a new stake in shares of Paycor HCM during the second quarter worth $150,000. 36.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PYCR has been the subject of a number of research analyst reports. BMO Capital Markets upgraded Paycor HCM from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $19.00 to $24.00 in a research note on Thursday, December 12th. Stephens assumed coverage on Paycor HCM in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price objective for the company. Stifel Nicolaus upped their target price on Paycor HCM from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group increased their price target on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, TD Cowen upgraded shares of Paycor HCM from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $22.00 in a research note on Monday, December 2nd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.56.

Insider Activity at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total value of $52,196.46. Following the transaction, the director now directly owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.39% of the stock is owned by corporate insiders.

Paycor HCM Stock Up 1.1 %

NASDAQ:PYCR opened at $18.54 on Friday. The stock has a market capitalization of $3.33 billion, a PE ratio of -71.31, a price-to-earnings-growth ratio of 4.79 and a beta of 0.51. The stock’s 50-day moving average price is $17.96 and its 200-day moving average price is $14.94. Paycor HCM, Inc. has a 52 week low of $10.92 and a 52 week high of $21.72.

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.