I imagine you need to make sure to use the right paper so the holes are sharply defined.
Lore:
Real target paper is produced so that the individual fibers are randomly oriented. This, so the holes will be nice and clean. Also, I believe the fibers are very short for the same reason.
I'm sure you've discovered how fragile targets are when handled, for this reason. You can hardly roll up a B-27 or similar sized target without ripping it.
Using ordinary paper for targets results in elongated holes since the majority of the fibers are more or less lined up in one direction.
Ordinary paper tears straighter in one direction than 90° away because of this fiber alignment.
Wadcutter bullets are used to make handgun target scoring easier since the holes they leave are very clean, making it easier to determine if they touch a scoring ring.
There are many types of scoring magnifiers. Sample:
Some old time pistol target shooters preferred .45s over .38s because the bigger hole diameter made it more likely to touch a higher scoring ring. After all, firing a 16" cannon shell at a 25 yard bullseye target would automatically result in a 10-X bullseye no matter where on the target the centerline of the shell struck, right? :)
Terry