Paycor HCM (NASDAQ:PYCR) Cut to “Hold” at TD Cowen

TD Cowen cut shares of Paycor HCM (NASDAQ:PYCR) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Truist Financial reaffirmed a “hold” rating and issued a $22.50 price objective (up from $20.00) on shares of Paycor HCM in a research note on Thursday, January 16th. Citigroup increased their price objective on shares of Paycor HCM from $21.00 to $22.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Needham & Company LLC cut shares of Paycor HCM from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Raymond James cut Paycor HCM from a “moderate buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Mizuho boosted their price objective on Paycor HCM from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.47.

Paycor HCM Price Performance

NASDAQ PYCR opened at $22.10 on Monday. The business has a fifty day moving average price of $19.33 and a two-hundred day moving average price of $15.72. The stock has a market capitalization of $3.97 billion, a PE ratio of -85.00, a PEG ratio of 4.17 and a beta of 0.50. Paycor HCM has a fifty-two week low of $10.92 and a fifty-two week high of $23.49.

Hedge Funds Weigh In On Paycor HCM

Several institutional investors have recently made changes to their positions in PYCR. Marshall Wace LLP lifted its holdings in shares of Paycor HCM by 1,234.9% in the 2nd quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock worth $4,712,000 after purchasing an additional 343,194 shares in the last quarter. ING Groep NV bought a new position in shares of Paycor HCM in the third quarter valued at $4,615,000. Cubist Systematic Strategies LLC grew its holdings in shares of Paycor HCM by 207.5% during the second quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock valued at $5,907,000 after buying an additional 313,851 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Paycor HCM by 1,047.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company’s stock worth $4,562,000 after acquiring an additional 293,487 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Paycor HCM by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,664,711 shares of the company’s stock valued at $21,140,000 after acquiring an additional 192,633 shares in the last quarter. Institutional investors and hedge funds own 36.76% of the company’s stock.

Paycor HCM Company Profile

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.