Paycor HCM (NASDAQ:PYCR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Paycor HCM (NASDAQ:PYCR) in a research report released on Friday,Benzinga reports. Needham & Company LLC currently has a $20.00 price objective on the stock.

Several other equities analysts have also weighed in on the company. The Goldman Sachs Group reduced their price objective on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 16th. BMO Capital Markets raised their target price on Paycor HCM from $15.00 to $19.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Citigroup upped their price target on Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen raised their price objective on shares of Paycor HCM from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, Truist Financial reduced their price objective on shares of Paycor HCM from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Paycor HCM has an average rating of “Hold” and a consensus price target of $19.06.

Paycor HCM Stock Up 4.0 %

Paycor HCM stock opened at $18.18 on Friday. The firm has a 50 day moving average price of $14.97 and a 200-day moving average price of $13.69. Paycor HCM has a twelve month low of $10.92 and a twelve month high of $22.65. The company has a market capitalization of $3.27 billion, a P/E ratio of -69.92, a P/E/G ratio of 4.28 and a beta of 0.42.

Insider Transactions at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 directly owns 21,218 shares in the company, valued at approximately $297,476.36. The trade was a 14.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Paycor HCM by 11.5% during the first quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company’s stock valued at $133,844,000 after buying an additional 710,370 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Paycor HCM by 2.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,841,396 shares of the company’s stock worth $86,886,000 after acquiring an additional 184,255 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 worth $21,140,000 after purchasing an additional 192,633 shares during the period. Geode Capital Management LLC lifted its position in Paycor HCM by 10.9% in the third quarter. Geode Capital Management LLC now owns 1,354,846 shares of the company’s stock valued at $19,231,000 after purchasing an additional 132,662 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Paycor HCM by 8.1% in the third quarter. Rockefeller Capital Management L.P. now owns 1,161,032 shares of the company’s stock valued at $16,478,000 after purchasing an additional 86,745 shares during the last quarter. Hedge funds and other institutional investors 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.