Paycor HCM (NASDAQ:PYCR) Earns “Buy” Rating from Needham & Company LLC

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $42.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 184.55% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird decreased their price target on Paycor HCM from $36.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday. Stifel Nicolaus decreased their price objective on shares of Paycor HCM from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday. Mizuho dropped their price target on Paycor HCM from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday. BTIG Research started coverage on shares of Paycor HCM in a research report on Tuesday, February 6th. They set a “buy” rating and a $26.00 target price for the company. Finally, BMO Capital Markets dropped their price target on shares of Paycor HCM from $23.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.53.

Paycor HCM Price Performance

Shares of PYCR traded down $2.74 during trading hours on Thursday, hitting $14.76. The stock had a trading volume of 4,001,385 shares, compared to its average volume of 768,326. Paycor HCM has a 1-year low of $14.53 and a 1-year high of $27.50. The firm has a market capitalization of $2.63 billion, a P/E ratio of -30.38, a price-to-earnings-growth ratio of 5.87 and a beta of 0.54. The firm has a 50 day simple moving average of $18.56 and a 200-day simple moving average of $19.88.

Paycor HCM (NASDAQ:PYCR) last issued its earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $159.54 million for the quarter, compared to analyst estimates of $155.49 million. Paycor HCM had a positive return on equity of 1.28% and a negative net margin of 13.82%. Equities analysts predict that Paycor HCM will post 0.15 EPS for the current fiscal year.

Insider Activity

In other Paycor HCM news, Director Jonathan Corr sold 1,508 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.30, for a total value of $27,596.40. Following the completion of the sale, the director now directly owns 18,480 shares of the company’s stock, valued at $338,184. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycor HCM news, insider Alice L. Geene sold 1,577 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.39, for a total value of $29,001.03. Following the sale, the insider now owns 107,581 shares of the company’s stock, valued at approximately $1,978,414.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Corr sold 1,508 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $18.30, for a total transaction of $27,596.40. Following the transaction, the director now directly owns 18,480 shares of the company’s stock, valued at $338,184. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Conestoga Capital Advisors LLC grew its position in shares of Paycor HCM by 38.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 6,657,141 shares of the company’s stock worth $129,415,000 after buying an additional 1,864,020 shares during the last quarter. Clearbridge Investments LLC increased its position in Paycor HCM by 9.6% during the 4th quarter. Clearbridge Investments LLC now owns 6,228,404 shares of the company’s stock valued at $134,471,000 after purchasing an additional 545,984 shares during the period. Vanguard Group Inc. raised its holdings in Paycor HCM by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 6,174,610 shares of the company’s stock worth $133,310,000 after purchasing an additional 700,499 shares in the last quarter. Invesco Ltd. increased its position in shares of Paycor HCM by 2.5% during the third quarter. Invesco Ltd. now owns 3,214,382 shares of the company’s stock valued at $73,384,000 after buying an additional 79,602 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Paycor HCM by 7.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,068,092 shares of the company’s stock worth $70,045,000 after buying an additional 215,084 shares during the period. Hedge funds and other 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.