Cincinnati, Ohio - Jeremy Rishel, a director at Paycor HCM , Inc. (NASDAQ:PYCR), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Rishel sold 3,723 shares of Paycor's common stock on October 16, 2024. The shares were sold at a price of $14.02 each, resulting in a total transaction value of $52,196.
This sale was made under a Rule 10b5-1 trading plan, which Rishel adopted on November 13, 2023. Following this transaction, Rishel now directly owns 21,218 shares of Paycor HCM. The company, headquartered in Cincinnati, provides prepackaged software services.
In other recent news, Paycor HCM Inc. has reported significant financial developments. The company's fourth fiscal quarter results exceeded expectations, with an 18% increase in revenue, reaching $165 million, and a 19% rise for the full fiscal year, totaling $655 million. This growth is attributed to strategic initiatives, product enhancements, and an expanded customer base. Paycor also provided initial guidance for fiscal year 2025, projecting revenues of $722 million to $729 million, and an expected adjusted operating income between $123 million and $126 million.
Simultaneously, Paycor promoted Tiffany Sieve to Chief Marketing Officer, as part of the company's strategy to reach $1 billion in revenue. In the financial sector, Stephens initiated coverage on Paycor with an Overweight rating and a price target of $18.00, while Stifel and Needham revised their outlooks on Paycor shares, reducing the price target but maintaining a Buy rating.
These recent developments highlight Paycor's strategic initiatives and conservative financial planning while expressing confidence in Paycor's ability to sustain growth and profitability.
InvestingPro Insights
To provide additional context to Jeremy Rishel's recent stock sale, it's worth examining some key financial metrics and insights from InvestingPro for Paycor HCM, Inc. (NASDAQ:PYCR).
As of the latest data, Paycor has a market capitalization of $2.47 billion. The company's revenue for the last twelve months as of Q4 2024 stood at $654.95 million, with a notable growth rate of 18.5%. This revenue growth aligns with an InvestingPro Tip suggesting that net income is expected to grow this year.
Paycor's gross profit margin is particularly strong at 65.92%, which InvestingPro highlights as one of the company's impressive features. This robust margin could indicate pricing power or efficient cost management in Paycor's core business operations.
However, it's important to note that Paycor is currently not profitable over the last twelve months, with an operating income margin of -8.47%. Despite this, another InvestingPro Tip suggests that analysts predict the company will be profitable this year, which could be a positive sign for investors looking at future potential.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 7 more InvestingPro Tips available for Paycor HCM, which could provide valuable context for understanding the company's financial position and future prospects.
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