Paycor HCM (NASDAQ:PYCR) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC lowered shares of Paycor HCM (NASDAQ:PYCR) from a moderate buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus increased their price target on Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Paycor HCM in a research note on Monday, January 6th. Stephens restated an “equal weight” rating and set a $22.50 price objective (up previously from $20.00) on shares of Paycor HCM in a report on Friday. TD Cowen upgraded Paycor HCM from a “hold” rating to a “buy” rating and boosted their price target for the company from $18.00 to $22.00 in a report on Monday, December 2nd. Finally, Mizuho increased their price objective on shares of Paycor HCM from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.91.

Paycor HCM Stock Performance

PYCR opened at $22.15 on Wednesday. Paycor HCM has a 52-week low of $10.92 and a 52-week high of $23.49. The company’s 50-day simple moving average is $18.68 and its two-hundred day simple moving average is $15.28. The stock has a market capitalization of $3.98 billion, a P/E ratio of -85.19, a P/E/G ratio of 4.79 and a beta of 0.50.

Insider Buying and Selling at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 21,218 shares in the company, valued at approximately $297,476.36. This represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycor HCM

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new stake in shares of Paycor HCM in the 3rd quarter worth $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Paycor HCM by 16.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,115 shares of the company’s stock worth $3,450,000 after buying an additional 34,336 shares during the period. ING Groep NV acquired a new stake in shares of Paycor HCM in the third quarter valued at about $4,615,000. GSA Capital Partners LLP lifted its holdings in shares of Paycor HCM by 75.6% during the third quarter. GSA Capital Partners LLP now owns 87,529 shares of the company’s stock worth $1,242,000 after buying an additional 37,691 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Paycor HCM in the 2nd quarter worth $560,000. 36.76% of the stock is currently owned by institutional investors and hedge funds.

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.