Stifel Nicolaus Forecasts Strong Price Appreciation for Paycor HCM (NASDAQ:PYCR) Stock

Paycor HCM (NASDAQ:PYCR) had its target price lifted by stock analysts at Stifel Nicolaus from $22.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 26.84% from the company’s previous close.

A number of other analysts also recently issued reports on PYCR. TD Cowen upgraded shares of Paycor HCM from a “hold” rating to a “buy” rating and lifted their price target for the company from $18.00 to $22.00 in a report on Monday, December 2nd. 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. Jefferies Financial Group boosted their target price on Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Stephens assumed coverage on Paycor HCM in a report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Paycor HCM in a research note on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.56.

Paycor HCM Price Performance

Shares of PYCR opened at $19.71 on Wednesday. The firm has a market cap of $3.54 billion, a P/E ratio of -75.81, a price-to-earnings-growth ratio of 4.79 and a beta of 0.51. Paycor HCM has a 1 year low of $10.92 and a 1 year high of $22.35. The company has a 50 day simple moving average of $16.89 and a two-hundred day simple moving average of $14.38.

Insider Transactions at Paycor HCM

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the firm’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 completion of the sale, the director now owns 21,218 shares of the company’s stock, valued at $297,476.36. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC grew its position in 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 acquiring an additional 2,158 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 worth $42,000 after purchasing an additional 2,846 shares during the last quarter. Quarry LP purchased a new position in Paycor HCM in the 2nd quarter worth about $69,000. Covestor Ltd increased its stake in Paycor HCM by 29.4% in the 3rd 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 period. Finally, HighMark Wealth Management LLC lifted its holdings in Paycor HCM by 100.0% during the 2nd quarter. HighMark Wealth Management LLC now owns 7,730 shares of the company’s stock valued at $98,000 after buying an additional 3,865 shares in the last quarter. 36.76% of the stock is currently owned by hedge funds and other institutional investors.

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.