Paycor HCM (NASDAQ:PYCR) Sets New 1-Year High – Should You Buy?

Paycor HCM, Inc. (NASDAQ:PYCR) reached a new 52-week high during trading on Monday . The company traded as high as $23.49 and last traded at $22.81, with a volume of 851739 shares trading hands. The stock had previously closed at $18.54.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PYCR. Citigroup upped their target price on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Paycor HCM in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Paycor HCM in a report on Monday. BMO Capital Markets raised shares of Paycor HCM from a “market perform” rating to an “outperform” rating and upped their price target for the company from $19.00 to $24.00 in a report on Thursday, December 12th. Finally, Stephens began coverage on shares of Paycor HCM in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Paycor HCM has a consensus rating of “Moderate Buy” and an average price target of $20.56.

Paycor HCM Stock Performance

The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -87.31, a P/E/G ratio of 4.79 and a beta of 0.51. The firm’s 50 day simple moving average is $17.96 and its 200-day simple moving average is $14.96.

Insider Activity at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total transaction of $52,196.46. Following the transaction, the director now directly owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. The trade was a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Paycor HCM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYCR. Franklin Resources Inc. increased its stake in shares of Paycor HCM by 2.7% in the third quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock worth $23,220,000 after acquiring an additional 46,127 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Paycor HCM by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,664,711 shares of the company’s stock worth $21,140,000 after purchasing an additional 192,633 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Paycor HCM by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,354,846 shares of the company’s stock worth $19,231,000 after purchasing an additional 132,662 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Paycor HCM by 8.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,161,032 shares of the company’s stock valued at $16,478,000 after buying an additional 86,745 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Paycor HCM by 5.2% in the 3rd quarter. State Street Corp now owns 1,111,032 shares of the company’s stock valued at $15,766,000 after buying an additional 54,834 shares in the last quarter. Hedge funds and other 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.