Do You Think Paycor HCM (PYCR) is an Attractive Investment Avenue?

Conestoga Capital Advisors, an asset management company, released its “Conestoga Smid Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Smid Cap composite declined 4.15% compared to a 0.12% return for the Russell 2500 Growth Index. Stock selection in Utilities and Basic Materials contributed significantly to the fund’s relative performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Conestoga Capital Advisors highlighted stocks like Paycor HCM, Inc. (NASDAQ:PYCR) in the Q3 2022 investor letter. Headquartered in Cincinnati, Ohio, Paycor HCM, Inc. (NASDAQ:PYCR) is a US-based SaaS human resource management solutions provider. On December 16, 2022, Paycor HCM, Inc. (NASDAQ:PYCR) stock closed at $25.12 per share. One-month return of Paycor HCM, Inc. (NASDAQ:PYCR) was -6.48%, and its shares lost 9.28% of their value over the last 52 weeks. Paycor HCM, Inc. (NASDAQ:PYCR) has a market capitalization of $4.418 billion.

Conestoga Capital Advisors made the following comment about Paycor HCM, Inc. (NASDAQ:PYCR) in its Q3 2022 investor letter:

“Paycor HCM, Inc. (NASDAQ:PYCR): PYCR is a cloud-based provider of payroll and human capital management software with a focus on small- and medium-zed businesses (typically 10 – 1,000 employees). Solutions include core human capital management (HCM) including payroll, workforce-talent management, benefits administration, and employee engagement. Recent investments in their salesforce, and an expanding product portfolio should allow PYCR to accelerate revenue growth into the high teens and beyond over the next several years as they push into larger “Tier 1” markets. We believe PYCR has an attractive business model featuring recurring revenue and margin expansion opportunity.”

Photo by Danial Igdery on Unsplash

Paycor HCM, Inc. (NASDAQ:PYCR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held Paycor HCM, Inc. (NASDAQ:PYCR) at the end of the third quarter, which was 6 in the previous quarter.

We discussed Paycor HCM, Inc. (NASDAQ:PYCR) in another article and shared the list of top gainers on August 24. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.