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

Needham & Company LLC lowered shares of Paycor HCM (NASDAQ:PYCR) from a moderate buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group raised their price objective on Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.50 target price (down from $24.00) on shares of Paycor HCM in a research report on Wednesday. Citizens Jmp lowered shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Mizuho raised their price target on shares of Paycor HCM from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.91.

Paycor HCM Stock Performance

Shares of Paycor HCM stock opened at $22.15 on Wednesday. The company has a market capitalization of $3.98 billion, a P/E ratio of -85.19, a PEG ratio of 4.79 and a beta of 0.50. The company’s fifty day moving average is $18.68 and its two-hundred day moving average is $15.28. Paycor HCM has a 1 year low of $10.92 and a 1 year high of $23.49.

Insider Transactions at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 21,218 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PYCR. Stifel Financial Corp raised its holdings in shares of Paycor HCM by 7.8% in the third quarter. Stifel Financial Corp now owns 13,498 shares of the company’s stock valued at $192,000 after purchasing an additional 981 shares during the last quarter. Covestor Ltd lifted its stake 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 in the last quarter. Rhumbline Advisers grew its holdings in shares of Paycor HCM by 2.3% during the second quarter. Rhumbline Advisers now owns 67,959 shares of the company’s stock worth $863,000 after purchasing an additional 1,560 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Paycor HCM by 0.6% in the 3rd quarter. Raymond James & Associates now owns 328,827 shares of the company’s stock worth $4,666,000 after purchasing an additional 1,834 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Paycor HCM by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 20,514 shares of the company’s stock worth $261,000 after buying an additional 1,964 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.