Is Paycor (PYCR) a Smart Long-Term Buy?

ClearBridge Investments, an investment management firm, published its “SMID Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge SMID Cap Growth Strategy outperformed its Russell 2500 Growth Index benchmark. On an absolute basis, the Strategy had gains across seven of the 10 sectors in which it was invested during the quarter (out of 11 sectors total), with the industrials sector the leading contributor, while the consumer discretionary and IT sectors were the primary detractors.  Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments SMID Cap Growth Strategy, in its Q4 2021 investor letter, mentioned Paycor HCM, Inc. (NASDAQ:PYCR) and discussed its stance on the firm. Founded in 1990, Paycor HCM, Inc. (NASDAQ:PYCR) is a Cincinnati, Ohio-based software company with a $5.1 billion market capitalization, and is currently spearheaded by its CEO, Raul Villar Jr. Paycor HCM, Inc. (NASDAQ:PYCR) delivered a 3.73% and it closed at $29.28 per share on March 28, 2022.

Here is what ClearBridge Investments SMID Cap Growth Strategy has to say about Paycor HCM, Inc. (NASDAQ:PYCR) in its Q4 2021 investor letter:

“We also purchased shares of two disruptive software companies that came public earlier in the year. Paycor, a software company n which we previously held a private investment in other portfolios, provides a product offering spanning core payroll & HR tools, with additional bundles that assist with talent management, employee engagement, benefit administration and workforce management tools.”

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Our calculations show that Paycor HCM, Inc. (NASDAQ:PYCR) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Paycor HCM, Inc. (NASDAQ:PYCR) was in 7 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 9 funds in the previous quarter. Paycor HCM, Inc. (NASDAQ:PYCR) delivered a 1.15% return in the past 3 months. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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