Paycor HCM (NASDAQ:PYCR) Shares Gap Down – Should You Sell?

Paycor HCM, Inc. (NASDAQ:PYCR) gapped down before the market opened on Tuesday . The stock had previously closed at $22.86, but opened at $22.12. Paycor HCM shares last traded at $22.07, with a volume of 10,914,443 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. 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 report on Tuesday, October 22nd. The Goldman Sachs Group boosted their target price 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. BMO Capital Markets raised shares of Paycor HCM from a “market perform” rating to an “outperform” rating and increased their price target for the company from $19.00 to $24.00 in a research note on Thursday, December 12th. Finally, Stephens started coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price objective for the company. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.56.

Paycor HCM Stock Performance

The stock has a market capitalization of $3.98 billion, a P/E ratio of -85.27, a PEG ratio of 4.79 and a beta of 0.50. The company’s fifty day simple moving average is $18.12 and its two-hundred day simple moving average is $15.04.

Insider Buying and Selling

In other Paycor HCM 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PYCR. Stifel Financial Corp increased its stake in Paycor HCM by 7.8% during the 3rd quarter. Stifel Financial Corp now owns 13,498 shares of the company’s stock worth $192,000 after acquiring an additional 981 shares during the period. Covestor Ltd raised 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 in the last quarter. Rhumbline Advisers lifted its position in Paycor HCM by 2.3% during the second quarter. Rhumbline Advisers now owns 67,959 shares of the company’s stock worth $863,000 after purchasing an additional 1,560 shares during the period. Raymond James & Associates grew its stake in Paycor HCM by 0.6% during the third quarter. Raymond James & Associates now owns 328,827 shares of the company’s stock worth $4,666,000 after buying an additional 1,834 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Paycor HCM by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,514 shares of the company’s stock valued at $261,000 after buying an additional 1,964 shares during the period. 36.76% of the stock is owned by institutional investors.

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.