Paycor HCM (NASDAQ:PYCR) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Paycor HCM (NASDAQ:PYCR) in a report published on Monday morning,Benzinga reports. Needham & Company LLC currently has a $20.00 target price on the stock.

PYCR has been the topic of a number of other reports. The Goldman Sachs Group boosted their price target on shares of Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Stephens started coverage on Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 target price on the stock. BMO Capital Markets raised Paycor HCM from a “market perform” rating to an “outperform” rating and raised their price target for the company from $19.00 to $24.00 in a report on Thursday, December 12th. TD Cowen raised Paycor HCM from a “hold” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $22.00 in a report on Monday, December 2nd. Finally, Stifel Nicolaus increased their price objective on Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.56.

Paycor HCM Stock Performance

Shares of PYCR opened at $22.86 on Monday. Paycor HCM has a 1 year low of $10.92 and a 1 year high of $23.49. The stock has a market capitalization of $4.11 billion, a P/E ratio of -87.92, a P/E/G ratio of 4.79 and a beta of 0.50. The company’s fifty day moving average is $18.12 and its two-hundred day moving average is $15.04.

Insider Transactions at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total transaction of $52,196.46. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Paycor HCM by 1,923.0% during 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 during the period. Quarry LP acquired a new stake in shares of Paycor HCM during the second quarter worth $69,000. Covestor Ltd increased its stake in Paycor HCM by 29.4% in the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock valued at $76,000 after purchasing an additional 1,210 shares during the last quarter. FMR LLC lifted its position in Paycor HCM by 93.9% during the third quarter. FMR LLC now owns 9,918 shares of the company’s stock worth $141,000 after buying an additional 4,804 shares during the period. Finally, Octavia Wealth Advisors LLC acquired a new stake in Paycor HCM in the 3rd quarter worth about $143,000. 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.