Paycor HCM (NASDAQ:PYCR) Earns Buy Rating from Needham & Company LLC

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $20.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 14.42% from the company’s previous close.

A number of other research analysts also recently weighed in on PYCR. BTIG Research cut their price objective 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. Stifel Nicolaus reduced their price objective on shares of Paycor HCM from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. The Goldman Sachs Group lowered their target price on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Stephens started coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 target price for the company. Finally, UBS Group decreased their price target on shares of Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.06.

Paycor HCM Price Performance

Paycor HCM stock opened at $17.48 on Friday. Paycor HCM has a one year low of $10.92 and a one year high of $22.65. The company’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $13.69. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -67.23, a PEG ratio of 4.20 and a beta of 0.42.

Insider Activity

In related news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total value of $52,196.46. Following the sale, the director now 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 legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 valued at $30,000 after purchasing an additional 2,158 shares in the last quarter. International Assets Investment Management LLC boosted its position in Paycor HCM by 1,923.0% in the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after buying an additional 2,846 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Paycor HCM by 52.4% in the first quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock valued at $67,000 after buying an additional 1,178 shares in the last quarter. Covestor Ltd grew its stake in Paycor HCM by 29.4% during the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock worth $76,000 after buying an additional 1,210 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Paycor HCM during the second quarter worth approximately $69,000. 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.