Mizuho Forecasts Strong Price Appreciation for Paycor HCM (NASDAQ:PYCR) Stock

Paycor HCM (NASDAQ:PYCR) had its price objective hoisted by equities researchers at Mizuho from $20.00 to $22.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s target price points to a potential upside of 1.53% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Paycor HCM in a research note on Monday. The Goldman Sachs Group increased their price target on Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on Paycor HCM from $22.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. 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. Finally, Stephens started coverage on Paycor HCM in a research note on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price target for the company. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Paycor HCM currently has an average rating of “Moderate Buy” and an average price target of $20.63.

Paycor HCM Trading Down 0.0 %

PYCR traded down $0.01 during trading hours on Wednesday, hitting $22.16. The company’s stock had a trading volume of 1,913,400 shares, compared to its average volume of 8,441,904. The company has a 50-day simple moving average of $18.27 and a 200 day simple moving average of $15.11. The firm has a market capitalization of $3.98 billion, a PE ratio of -85.23, a PEG ratio of 4.79 and a beta of 0.50. Paycor HCM has a fifty-two week low of $10.92 and a fifty-two week high of $23.49.

Insider Activity

In other news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total transaction of $52,196.46. Following the transaction, the director now owns 21,218 shares in the company, valued at approximately $297,476.36. The trade was a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co purchased a new stake in shares of Paycor HCM during the fourth quarter worth $273,000. Principal Financial Group Inc. purchased a new stake in shares of Paycor HCM during the third quarter valued at approximately $962,000. Franklin Resources Inc. grew its stake in shares of Paycor HCM by 2.7% in the third quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock worth $23,220,000 after purchasing an additional 46,127 shares during the last quarter. Barclays PLC boosted its holdings in Paycor HCM by 50.8% in the third quarter. Barclays PLC now owns 23,991 shares of the company’s stock valued at $340,000 after acquiring an additional 8,079 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Paycor HCM during the 3rd quarter worth approximately $912,000. 36.76% of the stock is owned by institutional investors.

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.