Paycor HCM Director Jeremy Rishel sells $52,196 worth of stock via Investing.com
Cincinnati, Ohio – Jeremy Rishel, director of Paycor HCM Inc. (NASDAQ:), recently sold part of his holdings in the company. According to a filing with the Securities and Exchange Commission, Rishel sold 3,723 shares of Paycor 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 the trading plan of Rule 10b5-1, which was accepted by Rishil on November 13, 2023. After this transaction, Rishil 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. reported major financial developments. The company’s fourth-quarter fiscal results beat expectations, with profits up 18%, to $165 million, and up 19% for the full fiscal year, at $655 million. This growth was driven by strategic initiatives, product development, and an expanded customer base. Paycor also provided preliminary guidance for fiscal year 2025, projecting revenue of $722 million to $729 million, and adjusted operating income between $123 million and $126 million.
At the same time, 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 Paycor coverage with an Overweight rating and a $18.00 price target, while Stifel and Needham revised their outlook on shares of Paycor, reducing the price target but maintaining a buy rating.
These recent developments highlight Paycor’s strategic plans and prudent financial planning while expressing confidence in Paycor’s ability to sustain growth and profitability.
InvestingPro Insights
To give more context to Jeremy Rishel’s recent stock sales, it’s worth checking out some key financial metrics and insights from InvestingPro for Paycor HCM, Inc. (NASDAQ:PYCR).
According to recent data, Paycor has a market capitalization of $2.47 billion. The company’s revenue for the last twelve months from Q4 2024 stood at $654.95 million, with a significant growth rate of 18.5%. This revenue growth is in line with InvestingPro’s tip which suggests that revenue is expected to grow this year.
Paycor’s gross margin is particularly strong at 65.92%, which InvestingPro highlights as one of the company’s most impressive features. These strong margins may reflect pricing power or effective cost management in Paycor’s core business activities.
However, it is important to note that Paycor is currently unprofitable over the past twelve months, with an operating margin of -8.47%. Despite this, another InvestingPro Tip suggests that analysts predict the company will be profitable this year, which could be a good sign for investors looking for future potential.
For those interested in comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 7 InvestingPro tips available in Paycor HCM, which can provide valuable context for understanding the company’s financial situation and future prospects.
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