Citigroup Increases Paycor HCM (NASDAQ:PYCR) Price Target to $16.00

Paycor HCM (NASDAQ:PYCR) had its target price lifted by equities research analysts at Citigroup from $15.00 to $16.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 14.29% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Mizuho dropped their price objective on shares of Paycor HCM from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. UBS Group dropped their price target on Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Jefferies Financial Group cut their price target on Paycor HCM from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, June 24th. JPMorgan Chase & Co. decreased their price objective on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Needham & Company LLC cut their target price on shares of Paycor HCM from $42.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.40.

Paycor HCM Stock Performance

Paycor HCM stock opened at $14.00 on Wednesday. Paycor HCM has a fifty-two week low of $10.92 and a fifty-two week high of $25.48. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -34.15, a price-to-earnings-growth ratio of 4.32 and a beta of 0.44. The stock’s fifty day moving average is $13.43 and its two-hundred day moving average is $14.63.

Paycor HCM (NASDAQ:PYCR) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Paycor HCM had a negative net margin of 9.00% and a positive return on equity of 2.98%. The firm had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $161.14 million. During the same period in the prior year, the company earned ($0.01) EPS. The firm’s revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts forecast that Paycor HCM will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Paycor HCM

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in Paycor HCM in the second quarter valued at approximately $560,000. Quarry LP purchased a new position in shares of Paycor HCM in the 2nd quarter valued at $69,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Paycor HCM by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,514 shares of the company’s stock valued at $261,000 after acquiring an additional 1,964 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Paycor HCM during the 2nd quarter worth $192,000. Finally, Squarepoint Ops LLC increased its holdings in Paycor HCM by 93.0% in the 2nd quarter. Squarepoint Ops LLC now owns 365,627 shares of the company’s stock valued at $4,643,000 after purchasing an additional 176,183 shares in the last quarter. 36.76% of the stock is owned by institutional investors and hedge funds.

About Paycor HCM

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.