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

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating reissued by equities researchers 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 target price indicates a potential downside of 9.79% from the stock’s current price.

A number of other equities analysts have also recently commented on PYCR. BMO Capital Markets upgraded Paycor HCM from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $19.00 to $24.00 in a report on Thursday, December 12th. Mizuho lifted their price objective on shares of Paycor HCM from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Stephens initiated coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group upped their price target on shares of Paycor HCM from $13.00 to $15.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.56.

Paycor HCM Trading Down 3.0 %

Shares of NASDAQ PYCR opened at $22.17 on Monday. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -85.27, a P/E/G ratio of 4.79 and a beta of 0.50. Paycor HCM has a 12-month low of $10.92 and a 12-month high of $23.49. The firm’s 50-day moving average price is $18.27 and its 200-day moving average price is $15.11.

Insider Activity at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the 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 in the company, valued at approximately $297,476.36. This trade represents 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 accessible through this link. 1.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paycor HCM

A number of institutional investors have recently added to or reduced their stakes in PYCR. International Assets Investment Management LLC raised its stake in shares of Paycor HCM by 1,923.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock worth $42,000 after acquiring an additional 2,846 shares in the last quarter. Covestor Ltd increased its position in Paycor HCM by 29.4% during the 3rd quarter. Covestor Ltd now owns 5,322 shares of the company’s stock valued at $76,000 after buying an additional 1,210 shares in the last quarter. Quarry LP purchased a new stake in Paycor HCM in the second quarter valued at about $69,000. FMR LLC boosted its holdings in Paycor HCM by 93.9% in the third quarter. FMR LLC now owns 9,918 shares of the company’s stock worth $141,000 after acquiring an additional 4,804 shares in the last quarter. Finally, Octavia Wealth Advisors LLC purchased a new stake in shares of Paycor HCM during the third quarter worth about $143,000. 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.