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

Needham & Company LLC restated their buy rating on shares of Paycor HCM (NASDAQ:PYCR) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $20.00 target price on the stock.

Other research analysts have also recently issued reports about the company. Stephens started coverage on Paycor HCM in a report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective for the company. Jefferies Financial Group lifted their price target on shares of Paycor HCM from $13.00 to $15.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. BMO Capital Markets raised shares of Paycor HCM from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $19.00 to $24.00 in a research note on Thursday, December 12th. Stifel Nicolaus raised their price objective on shares of Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Mizuho lifted their target price on shares of Paycor HCM from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.63.

Paycor HCM Stock Performance

NASDAQ PYCR opened at $22.17 on Monday. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $23.49. The stock’s 50 day moving average is $18.41 and its two-hundred day moving average is $15.16. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -85.27, a PEG ratio of 4.79 and a beta of 0.50.

Insider Activity

In related news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM stock in a transaction dated 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 $297,476.36. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Prevail Innovative Wealth Advisors LLC lifted its holdings in Paycor HCM by 434.5% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 118,998 shares of the company’s stock valued at $1,511,000 after buying an additional 96,736 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Paycor HCM in the 3rd quarter valued at $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Paycor HCM by 16.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,115 shares of the company’s stock worth $3,450,000 after purchasing an additional 34,336 shares during the last quarter. ING Groep NV acquired a new stake in shares of Paycor HCM during the third quarter worth $4,615,000. Finally, GSA Capital Partners LLP increased its holdings in Paycor HCM by 75.6% in the third quarter. GSA Capital Partners LLP now owns 87,529 shares of the company’s stock valued at $1,242,000 after purchasing an additional 37,691 shares during the last quarter. Institutional investors own 36.76% of the company’s stock.

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.