Paycor HCM (NASDAQ:PYCR) Shares Gap Down – Here’s Why

Shares of Paycor HCM, Inc. (NASDAQ:PYCR) gapped down before the market opened on Tuesday . The stock had previously closed at $22.86, but opened at $22.12. Paycor HCM shares last traded at $22.07, with a volume of 10,914,443 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on PYCR. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Paycor HCM in a research note on Monday. Stifel Nicolaus upped their price target on shares of Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on Paycor HCM from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Mizuho upped their target price on Paycor HCM from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, BMO Capital Markets upgraded Paycor HCM from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $19.00 to $24.00 in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Paycor HCM presently has an average rating of “Moderate Buy” and a consensus target price of $20.56.

Paycor HCM Trading Down 3.0 %

The firm’s fifty day moving average price is $18.12 and its 200-day moving average price is $15.04. The company has a market cap of $3.98 billion, a P/E ratio of -85.27, 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 Paycor HCM 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 sale, the director now owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of 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 worth $42,000 after acquiring an additional 2,846 shares during the period. Covestor Ltd boosted its holdings in 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. Quarry LP bought a new position in shares of Paycor HCM during the 2nd quarter worth approximately $69,000. FMR LLC grew its position in Paycor HCM by 93.9% in the third quarter. FMR LLC now owns 9,918 shares of the company’s stock valued at $141,000 after acquiring an additional 4,804 shares during the period. Finally, Octavia Wealth Advisors LLC acquired a new stake in shares of Paycor HCM during the 3rd quarter worth about $143,000. Institutional investors and hedge funds 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.