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

Paycor HCM (NASDAQ:PYCR) was downgraded by investment analysts at Needham & Company LLC from a “moderate buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Citizens Jmp lowered shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a report on Thursday. Mizuho boosted their price objective on Paycor HCM from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup increased their target price on Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Paycor HCM in a research report on Monday, January 6th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.50 price objective (down previously from $24.00) on shares of Paycor HCM in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Paycor HCM currently has an average rating of “Hold” and a consensus price target of $20.91.

Paycor HCM Stock Performance

PYCR opened at $22.15 on Wednesday. The company has a market cap of $3.98 billion, a PE ratio of -85.19, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50. Paycor HCM has a 1 year low of $10.92 and a 1 year high of $23.49. The firm has a 50 day moving average price of $18.68 and a 200 day moving average price of $15.28.

Insider Activity at Paycor HCM

In other 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 transaction of $52,196.46. Following the completion of the sale, the director now directly owns 21,218 shares of the company’s stock, valued at $297,476.36. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.39% of the company’s stock.

Institutional Trading of Paycor HCM

Several large investors have recently added to or reduced their stakes in PYCR. Franklin Resources Inc. lifted its stake in Paycor HCM by 2.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock worth $23,220,000 after acquiring an additional 46,127 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Paycor HCM by 13.1% in the second 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Paycor HCM by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,354,846 shares of the company’s stock valued at $19,231,000 after buying an additional 132,662 shares during the period. Rockefeller Capital Management L.P. increased its position in Paycor HCM by 8.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,161,032 shares of the company’s stock worth $16,478,000 after purchasing an additional 86,745 shares during the last quarter. Finally, State Street Corp raised its position in Paycor HCM by 5.2% during the third quarter. State Street Corp now owns 1,111,032 shares of the company’s stock valued at $15,766,000 after acquiring an additional 54,834 shares in the last quarter. 36.76% of the stock is 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.