On June 6, 2023, JPMorgan Chase & Co. revealed in its most recent SEC filing that it had increased its stake in Paycor HCM by 6.7% during the fourth quarter of the previous year. The fund owned over four million shares of Paycor HCM worth a staggering $106,670,000 at the end of Q4 2022. This makes it the owner of approximately 2.48% of the company’s stock.
Paycor HCM Inc., through its various subsidiaries, provides software-as-a-service (SaaS) human capital management (HCM) solutions for small and medium-sized businesses (SMBs) primarily in the United States. The technology company offers a cloud-native platform that addresses the comprehensive people management needs of SMB leaders.
The company’s SaaS-based people management products include Cor HCM, which is a complete suite of tools spanning HR, onboarding, payroll, compensation management, employee surveys, expenses reporting, and analytics; Workforce Management – a solution with flexible time entry capabilities and scheduling features with real-time payroll synchronization; Benefits Administration – a decision support solution designed to help leaders streamline and optimize their company’s benefits administration processes; and Talent Management – an integrated compensation and performance management solution.
In related news from April 25th last year, insider Alice L. Geene sold some of her shares in Paycor HCM Inc., amounting to 1,267 shares in total at an average price of $23.92 per share each for a total value of $30,306.64. From her remaining shares following this transaction held directly by her as an insider at Paycor HCM Inc., she has approximately 55 thousand shares valued at approximately $1,326,148.72.
Also noteworthy was on April 4th last year when Director Jonathan Corr sold some of his holdings amounting to 1,509 shares in the company at an average price of $24.81 per share each for a value of $37,438.29. Following this transaction, he now directly holds approximately 22 thousand shares in the company valued at about $566,089.77.
According to the SEC filing, insiders hold around 0.39% of Paycor HCM Inc.’s stock.
As one of the leading providers of SaaS-based people management products available today in America, Paycor HCM Inc. is expected to continue growing and expanding its market position as more and more businesses opt for intuitive HR software solutions that improve internal processes and save management time while also enabling proactive people management strategies that stimulate long-term business growth and success.
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Institutional Investors Show Mixed Sentiments Towards Paycor HCM, Inc.
Paycor HCM, Inc. a US company that offers comprehensive HR and payroll solutions to businesses of all sizes has recently seen increase and decrease in the stakes of institutional investors. Amalgamated Bank increased its stake in shares of Paycor HCM by 15.2% and GW&K Investment Management LLC grew its stake by 11.5% during the fourth quarter of 2022. In contrast, Credit Suisse Group, Deutsche Bank Aktiengesellschaft, Robert W. Baird, and Raymond James decreased their target price on Paycor HCM from $35.00 to $30.00 as per recent research notes on Thursday, May 11th.
As per Bloomberg’s data analysis report stated that approximately 32.26% of Paycor HMC’s stock is currently owned by institutional investors who have either acquired or reduced their positions in this HR management services provider.
While the average rating for Paycor HMC stock is “hold”, several analysts at Needham & Company LLC gave a “buy” rating with a target price of $42.00 on March 2nd.
Paycor’s HMC’s share price opened at $23.17 on Tuesday with a 50-day moving average price of $23.40 and a 200-day moving average price of $24.58; its lowest one-year record was $20.50 while the highest record soared up to $34.95 in less than twelve months.
With growth accelerators as well as drastic reductions happening in terms of investment into this enterprise management solution provider, time will tell if this rising tension between endorsements amid market experts will continue causing an intersection with ongoing investments into rapidly evolving software companies like Paycor’s HCM division during the years to come.