Citigroup Trims Paycor HCM (NASDAQ:PYCR) Target Price to $17.00

Paycor HCM (NASDAQ:PYCR) had its target price reduced by Citigroup from $20.00 to $17.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group decreased their price objective on Paycor HCM from $22.00 to $19.00 and set a neutral rating for the company in a report on Monday, May 13th. Mizuho dropped their price objective on shares of Paycor HCM from $22.00 to $19.00 and set a neutral rating on the stock in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Paycor HCM from $21.00 to $19.00 and set a hold rating for the company in a research note on Thursday, May 9th. JMP Securities decreased their price objective on shares of Paycor HCM from $32.00 to $30.00 and set a market outperform rating for the company in a research report on Thursday, May 9th. Finally, Robert W. Baird dropped their target price on Paycor HCM from $36.00 to $27.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $24.44.

Paycor HCM Stock Performance

Shares of NASDAQ PYCR opened at $13.01 on Wednesday. The company has a 50 day simple moving average of $17.13 and a two-hundred day simple moving average of $19.32. Paycor HCM has a 12 month low of $12.86 and a 12 month high of $27.50.

Insider Buying and Selling

In related news, Director Jonathan Corr sold 1,508 shares of Paycor HCM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.30, for a total transaction of $27,596.40. Following the transaction, the director now owns 18,480 shares in the company, valued at $338,184. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock was sold at an average price of $18.39, for a total transaction of $29,001.03. Following the completion of the sale, the insider now owns 107,581 shares of the company’s stock, valued at $1,978,414.59. The transaction 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 firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.30, for a total value of $27,596.40. Following the sale, the director now directly owns 18,480 shares of the company’s stock, valued at approximately $338,184. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycor HCM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Paycor HCM by 11.5% in the first quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company’s stock valued at $133,844,000 after buying an additional 710,370 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Paycor HCM by 38.9% in the first quarter. Conestoga Capital Advisors LLC now owns 6,657,141 shares of the company’s stock valued at $129,415,000 after buying an additional 1,864,020 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Paycor HCM by 1.9% in the first quarter. Clearbridge Investments LLC now owns 6,344,522 shares of the company’s stock valued at $123,338,000 after buying an additional 116,118 shares in the last quarter. Invesco Ltd. grew its stake in shares of Paycor HCM by 2.5% in 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Paycor HCM by 9.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,429,701 shares of the company’s stock valued at $47,233,000 after buying an additional 213,313 shares in the last quarter. Institutional investors and hedge funds own 36.76% of the company’s stock.

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.