Needham & Company LLC Reaffirms Buy Rating for Paycor HCM (NASDAQ:PYCR)

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They currently have a $20.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 19.83% from the company’s current price.

A number of other equities research analysts have also recently commented on PYCR. UBS Group decreased their target price on shares of Paycor HCM from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Stephens began coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective on the stock. BTIG Research reduced their price objective on shares of Paycor HCM from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Truist Financial reduced their price objective on shares of Paycor HCM from $33.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Paycor HCM currently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Paycor HCM Trading Up 3.0 %

NASDAQ PYCR opened at $16.69 on Thursday. Paycor HCM has a 12 month low of $10.92 and a 12 month high of $22.65. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -49.09, a PEG ratio of 4.87 and a beta of 0.42. The company’s 50 day moving average is $14.17 and its two-hundred day moving average is $13.74.

Paycor HCM (NASDAQ:PYCR) last released its earnings results on Wednesday, August 14th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Paycor HCM had a negative net margin of 9.00% and a positive return on equity of 2.98%. The company had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $161.14 million. During the same quarter last year, the business earned ($0.01) EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts forecast that Paycor HCM will post 0.25 EPS for the current year.

Insiders Place Their Bets

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the company’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 directly owns 21,218 shares in the company, valued at approximately $297,476.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

Several hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of Paycor HCM by 52.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock worth $67,000 after acquiring an additional 1,178 shares in the last quarter. Covestor Ltd raised its position in shares of 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 acquiring an additional 1,210 shares in the last quarter. Rhumbline Advisers raised its position in shares of Paycor HCM by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 67,959 shares of the company’s stock worth $863,000 after acquiring an additional 1,560 shares in the last quarter. Fiera Capital Corp raised its position in shares of Paycor HCM by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 190,677 shares of the company’s stock worth $2,422,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Raymond James & Associates raised its position 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 acquiring an additional 1,834 shares in the last quarter. 36.76% of the stock is currently owned by hedge funds and other institutional investors.

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.