Should You Add Paycor HCM (PYCR) to Your Portfolio?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital 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 19, 2022, Paycor HCM, Inc. (NASDAQ:PYCR) stock closed at $25.00 per share. One-month return of Paycor HCM, Inc. (NASDAQ:PYCR) was -8.73%, and its shares lost 13.61% of their value over the last 52 weeks. Paycor HCM, Inc. (NASDAQ:PYCR) has a market capitalization of $4.396 billion.

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

“Better results came from Paycor HCM, Inc. (NASDAQ:PYCR), a leading software-as-a-service provider of human capital management solutions for small and medium-sized businesses. Demand was strong, leading to growth in bookings, larger clients, and higher per-employee-per-month service levels. That prompted Paycor’s management to provide better-than-expected guidance for the next fiscal year and supported a 15% gain this quarter. We added to our position later via a secondary offering that caused temporary intra-quarter weakness.”

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 Conestoga Capital Advisors’ views on the company. 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.