Paycor HCM (NASDAQ:PYCR) Lowered to Hold Rating by Citizens Jmp

Citizens Jmp downgraded shares of Paycor HCM (NASDAQ:PYCR) from a strong-buy rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

Several other equities analysts have also weighed in on PYCR. BMO Capital Markets reissued a “market perform” rating and set a $22.50 price objective (down from $24.00) on shares of Paycor HCM in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Paycor HCM in a research note on Monday, January 6th. Citigroup raised their price objective on shares of Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Mizuho increased their price target on shares of Paycor HCM from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday. Finally, JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Paycor HCM in a report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.91.

Paycor HCM Price Performance

Shares of Paycor HCM stock opened at $22.15 on Thursday. The stock has a fifty day moving average price of $18.68 and a 200-day moving average price of $15.28. The firm has a market cap of $3.98 billion, a PE ratio of -85.19, a P/E/G 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 Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PYCR. Diversified Trust Co purchased a new position in Paycor HCM in the 4th quarter worth about $273,000. Principal Financial Group Inc. purchased a new stake in Paycor HCM during the 3rd quarter valued at $962,000. Franklin Resources Inc. lifted its holdings in Paycor HCM by 2.7% in the third quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock valued at $23,220,000 after acquiring an additional 46,127 shares during the period. Barclays PLC raised its position in Paycor HCM by 50.8% in the third quarter. Barclays PLC now owns 23,991 shares of the company’s stock worth $340,000 after acquiring an additional 8,079 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Paycor HCM in the 3rd quarter worth $912,000. 36.76% of the stock is owned by 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.