Needham & Company LLC Downgrades Paycor HCM (NASDAQ:PYCR) to Hold

Paycor HCM (NASDAQ:PYCR) was downgraded by equities researchers at Needham & Company LLC from a “moderate buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus increased their price target on Paycor HCM from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. TD Cowen raised Paycor HCM from a “hold” rating to a “buy” rating and raised their price objective for the company from $18.00 to $22.00 in a research note on Monday, December 2nd. Citizens Jmp lowered shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Mizuho upped their price target on Paycor HCM from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.91.

Paycor HCM Stock Performance

Paycor HCM stock opened at $22.15 on Wednesday. The stock has a market capitalization of $3.98 billion, a P/E ratio of -85.19, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50. Paycor HCM has a 52 week low of $10.92 and a 52 week high of $23.49. The stock has a fifty day moving average of $18.68 and a 200-day moving average of $15.28.

Insider Activity

In other Paycor HCM 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 transaction, the director now owns 21,218 shares in the company, valued at $297,476.36. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp raised its position in shares of Paycor HCM by 7.8% in the third quarter. Stifel Financial Corp now owns 13,498 shares of the company’s stock valued at $192,000 after buying an additional 981 shares during the last quarter. Covestor Ltd raised its holdings in Paycor HCM by 29.4% during the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock worth $76,000 after purchasing an additional 1,210 shares in the last quarter. Rhumbline Advisers boosted 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 valued at $863,000 after purchasing an additional 1,560 shares during the period. Raymond James & Associates grew its stake 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 valued at $4,666,000 after purchasing an additional 1,834 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Paycor HCM by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 20,514 shares of the company’s stock valued at $261,000 after purchasing an additional 1,964 shares during the period. 36.76% of the stock is owned by hedge funds and other 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.