Paycor HCM (NASDAQ:PYCR) Earns Buy Rating from Needham & Company LLC

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $20.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 14.42% from the stock’s current price.

A number of other research analysts also recently issued reports on PYCR. The Goldman Sachs Group cut their target price on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. JPMorgan Chase & Co. lowered their target price on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Citigroup upped their target price on shares of Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. BTIG Research reduced their price target on Paycor HCM from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, TD Cowen lifted their price objective on Paycor HCM from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.06.

Paycor HCM Stock Up 2.0 %

Shares of PYCR opened at $17.48 on Friday. The stock’s fifty day simple moving average is $14.88 and its 200-day simple moving average is $13.69. The firm has a market capitalization of $3.14 billion, a PE ratio of -67.23, a price-to-earnings-growth ratio of 4.20 and a beta of 0.42. Paycor HCM has a 12-month low of $10.92 and a 12-month high of $22.65.

Insider Buying and Selling at Paycor HCM

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total value of $52,196.46. Following the sale, the director now owns 21,218 shares of the company’s stock, valued at $297,476.36. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PYCR. Vanguard Group Inc. boosted its position in Paycor HCM by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company’s stock worth $133,844,000 after acquiring an additional 710,370 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Paycor HCM by 149.2% in the second quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock worth $7,722,000 after purchasing an additional 364,025 shares in the last quarter. Marshall Wace LLP boosted its holdings in Paycor HCM by 1,234.9% during the second quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock worth $4,712,000 after purchasing an additional 343,194 shares during the last quarter. ING Groep NV bought a new position in Paycor HCM in the third quarter valued at $4,615,000. Finally, Cubist Systematic Strategies LLC grew its position in Paycor HCM by 207.5% in the second quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock valued at $5,907,000 after purchasing an additional 313,851 shares in the last quarter. 36.76% of the stock is currently owned by institutional investors.

Paycor HCM Company Profile

Paycor HCM, Inc, together with its subsidiaries, provides software-as-a-service (SaaS) human capital management (HCM) solutions for small and medium-sized businesses (SMBs) primarily in the United States. It offers cloud-native platform to address the comprehensive people management needs of SMB leaders.