Paycor HCM (NASDAQ:PYCR) Stock Price Expected to Rise, Mizuho Analyst Says

Paycor HCM (NASDAQ:PYCR) had its price objective upped by stock analysts at Mizuho from $20.00 to $22.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential upside of 1.49% from the company’s previous close.

Other equities analysts have also issued reports about the stock. TD Cowen upgraded shares of Paycor HCM from a “hold” rating to a “buy” rating and raised their price objective for the company from $18.00 to $22.00 in a research report on Monday, December 2nd. BMO Capital Markets reissued a “market perform” rating and issued a $22.50 price target (down from $24.00) on shares of Paycor HCM in a report on Wednesday. Citigroup upped their price target on shares of Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus lifted their price objective on Paycor HCM from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Stephens assumed coverage on Paycor HCM in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paycor HCM presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.

Paycor HCM Stock Performance

Shares of PYCR opened at $22.17 on Wednesday. Paycor HCM has a 52-week low of $10.92 and a 52-week high of $23.49. The stock’s 50-day simple moving average is $18.55 and its 200 day simple moving average is $15.21. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -85.27, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50.

Insider Transactions at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 21,218 shares of the company’s stock, valued at $297,476.36. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in Paycor HCM by 1,923.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after acquiring an additional 2,846 shares in the last quarter. Quarry LP purchased a new position in shares of Paycor HCM in the 2nd quarter valued at approximately $69,000. Covestor Ltd boosted its position in shares of Paycor HCM by 29.4% during 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. FMR LLC grew its stake in Paycor HCM by 93.9% in the third quarter. FMR LLC now owns 9,918 shares of the company’s stock worth $141,000 after purchasing an additional 4,804 shares during the period. Finally, Octavia Wealth Advisors LLC bought a new position in Paycor HCM in the third quarter worth $143,000. Hedge funds and other institutional investors own 36.76% of the company’s stock.

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.