BMO Capital Markets Upgrades Paycor HCM (NASDAQ:PYCR) to “Outperform”

Paycor HCM (NASDAQ:PYCR) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has a $24.00 target price on the stock, up from their previous target price of $19.00. BMO Capital Markets’ price objective points to a potential upside of 20.12% from the stock’s current price.

PYCR has been the subject of several other research reports. The Goldman Sachs Group raised their price objective on Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. UBS Group dropped their price objective on shares of Paycor HCM from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Stephens initiated coverage on shares of Paycor HCM in a research note on Wednesday, October 16th. They set an “overweight” rating and a $18.00 target price for the company. BTIG Research cut their price target on Paycor HCM from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Citigroup raised their price objective on Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.19.

Paycor HCM Stock Down 1.3 %

PYCR opened at $19.98 on Thursday. Paycor HCM has a 52 week low of $10.92 and a 52 week high of $22.65. The stock has a market cap of $3.59 billion, a PE ratio of -76.85, a PEG ratio of 4.70 and a beta of 0.51. The business has a 50 day moving average of $16.35 and a 200-day moving average of $14.18.

Insider Buying and Selling at Paycor HCM

In other 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 completion of the transaction, the director now directly owns 21,218 shares of the company’s stock, valued at $297,476.36. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

A number of large investors have recently added to or reduced their stakes in PYCR. CWM LLC boosted its stake in shares of Paycor HCM by 950.7% in the 2nd quarter. CWM LLC now owns 2,385 shares of the company’s stock worth $30,000 after buying an additional 2,158 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Paycor HCM by 226.5% in the second quarter. SG Americas Securities LLC now owns 136,159 shares of the company’s stock valued at $1,729,000 after acquiring an additional 94,454 shares during the period. Bank of New York Mellon Corp boosted its position in 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 during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Paycor HCM by 2.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,841,396 shares of the company’s stock valued at $86,886,000 after purchasing an additional 184,255 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Paycor HCM by 72.6% during 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. Institutional investors own 36.76% of the company’s stock.

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.