TD Cowen Upgrades Paycor HCM (NASDAQ:PYCR) to Buy

Paycor HCM (NASDAQ:PYCR) was upgraded by equities research analysts at TD Cowen from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat reports. The brokerage currently has a $22.00 price objective on the stock, up from their prior price objective of $18.00. TD Cowen’s price target suggests a potential upside of 19.05% from the stock’s current price.

Several other research analysts also recently commented on the company. Citigroup raised their price objective on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. The Goldman Sachs Group raised their target price on shares of Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Truist Financial cut their price target on shares of Paycor HCM from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Stephens initiated coverage on Paycor HCM in a report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Paycor HCM presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.56.

Paycor HCM Trading Up 0.2 %

Shares of NASDAQ:PYCR opened at $18.48 on Monday. Paycor HCM has a 12 month low of $10.92 and a 12 month high of $22.65. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -71.08, a PEG ratio of 4.52 and a beta of 0.51. The firm’s 50-day moving average is $15.39 and its 200 day moving average is $13.83.

Insiders Place Their Bets

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction that occurred 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 sale, the director now 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 document filed with the SEC, which is accessible through this link. 1.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Paycor HCM

Institutional investors have recently made changes to their positions in the company. CWM LLC grew its position in Paycor HCM by 950.7% during the second quarter. CWM LLC now owns 2,385 shares of the company’s stock valued at $30,000 after buying an additional 2,158 shares during the period. International Assets Investment Management LLC increased its stake in shares of Paycor HCM by 1,923.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after purchasing an additional 2,846 shares in the last quarter. Covestor Ltd raised its holdings in Paycor HCM by 29.4% in the 3rd quarter. Covestor Ltd now owns 5,322 shares of the company’s stock worth $76,000 after purchasing an additional 1,210 shares during the period. Quarry LP purchased a new position in Paycor HCM during the second quarter worth approximately $69,000. Finally, HighMark Wealth Management LLC boosted its position in Paycor HCM by 100.0% during the second quarter. HighMark Wealth Management LLC now owns 7,730 shares of the company’s stock worth $98,000 after purchasing an additional 3,865 shares in the last quarter. 36.76% of the stock is owned by hedge funds and other 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.