Needham & Company LLC Reiterates “Buy” Rating for Paycor HCM (NASDAQ:PYCR)

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $20.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 7.87% from the company’s current price.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group increased their target price on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Citigroup increased their target price on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Mizuho boosted their price target on Paycor HCM from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their target price on shares of Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, TD Cowen upgraded shares of Paycor HCM from a “hold” rating to a “buy” rating and increased their price target for the stock from $18.00 to $22.00 in a research report on Monday, December 2nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Paycor HCM has a consensus rating of “Moderate Buy” and a consensus target price of $20.56.

Paycor HCM Stock Performance

Shares of Paycor HCM stock opened at $18.54 on Monday. The firm has a 50-day moving average of $17.96 and a 200-day moving average of $14.96. Paycor HCM has a 52-week low of $10.92 and a 52-week high of $21.72. The stock has a market cap of $3.33 billion, a PE ratio of -71.31, a PEG ratio of 4.79 and a beta of 0.51.

Insider Transactions at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total value of $52,196.46. Following the completion of the sale, the director now directly owns 21,218 shares in the company, valued at $297,476.36. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

A number of institutional investors have recently made changes to their positions in PYCR. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 364,025 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Paycor HCM by 72.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,241 shares of the company’s stock valued at $244,000 after purchasing an additional 8,094 shares during the last quarter. Rhumbline Advisers increased its position in shares of Paycor HCM by 2.3% during the second quarter. Rhumbline Advisers now owns 67,959 shares of the company’s stock worth $863,000 after buying an additional 1,560 shares during the period. Quest Partners LLC raised its stake in Paycor HCM by 451.3% during the second quarter. Quest Partners LLC now owns 35,892 shares of the company’s stock worth $456,000 after buying an additional 29,381 shares during the last quarter. Finally, Choreo LLC acquired a new position in Paycor HCM in the second quarter valued at $150,000. Institutional investors own 36.76% of the company’s stock.

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.