Paycor HCM’s (PYCR) Buy Rating Reaffirmed at Needham & Company LLC

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $20.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential downside of 9.79% from the company’s current price.

A number of other equities research analysts also recently commented on the company. TD Cowen raised Paycor HCM from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $22.00 in a report on Monday, December 2nd. Stephens started coverage on shares of Paycor HCM in a research note on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho boosted their target price on shares of Paycor HCM from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group increased their price target on Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to 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 stock opened at $22.17 on Monday. The business has a fifty day moving average of $18.27 and a 200 day moving average of $15.11. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -85.27, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50. Paycor HCM has a 1 year low of $10.92 and a 1 year high of $23.49.

Insider Transactions at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total value of $52,196.46. Following the transaction, the director now owns 21,218 shares in the company, 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 SEC, which is available through this link. 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 company. Franklin Resources Inc. grew its holdings in shares of Paycor HCM by 2.7% during the third quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock worth $23,220,000 after buying an additional 46,127 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Paycor HCM by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,664,711 shares of the company’s stock worth $21,140,000 after acquiring an additional 192,633 shares during the last quarter. Geode Capital Management LLC grew its stake in Paycor HCM by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,354,846 shares of the company’s stock valued at $19,231,000 after acquiring an additional 132,662 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Paycor HCM by 8.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,161,032 shares of the company’s stock valued at $16,478,000 after acquiring an additional 86,745 shares during the last quarter. Finally, State Street Corp lifted its stake in Paycor HCM by 5.2% in the 3rd quarter. State Street Corp now owns 1,111,032 shares of the company’s stock worth $15,766,000 after purchasing an additional 54,834 shares in the last quarter. Hedge funds and other 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.