Paycor HCM (NASDAQ:PYCR) Given “Buy” Rating at Needham & Company LLC

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $42.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 140.69% from the stock’s previous close.

Other analysts have also issued reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 target price (down from $27.00) on shares of Paycor HCM in a report on Friday, January 5th. BTIG Research began coverage on Paycor HCM in a report on Tuesday, February 6th. They set a “buy” rating and a $26.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Paycor HCM currently has a consensus rating of “Hold” and a consensus target price of $27.35.

Paycor HCM Stock Down 0.5 %

Shares of NASDAQ:PYCR opened at $17.45 on Thursday. Paycor HCM has a 52-week low of $16.56 and a 52-week high of $27.50. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -36.35, a PEG ratio of 5.86 and a beta of 0.50. The business has a 50-day moving average price of $19.24 and a 200-day moving average price of $20.38.

Paycor HCM (NASDAQ:PYCR) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Paycor HCM had a positive return on equity of 1.28% and a negative net margin of 13.82%. The firm had revenue of $159.54 million during the quarter, compared to analysts’ expectations of $155.49 million. As a group, equities analysts anticipate that Paycor HCM will post 0.15 EPS for the current fiscal year.

Insider Transactions at Paycor HCM

In other news, insider Alice L. Geene sold 1,577 shares of Paycor HCM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.39, for a total value of $29,001.03. Following the sale, the insider now directly owns 107,581 shares of the company’s stock, valued at $1,978,414.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, insider Alice L. Geene sold 1,577 shares of Paycor HCM 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 completion of the sale, the insider now owns 107,581 shares in the company, valued at approximately $1,978,414.59. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

A number of institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC grew its stake in Paycor HCM by 9.6% during the 4th quarter. Clearbridge Investments LLC now owns 6,228,404 shares of the company’s stock worth $134,471,000 after purchasing an additional 545,984 shares in the last quarter. Vanguard Group Inc. grew its stake in Paycor HCM by 12.8% during 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. Conestoga Capital Advisors LLC boosted its position in shares of Paycor HCM by 19.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 4,793,121 shares of the company’s stock worth $103,483,000 after acquiring an additional 793,590 shares in the last quarter. Invesco Ltd. boosted its position in shares of Paycor HCM by 2.5% during the 3rd quarter. Invesco Ltd. now owns 3,214,382 shares of the company’s stock worth $73,384,000 after acquiring an additional 79,602 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Paycor HCM by 7.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,068,092 shares of the company’s stock worth $70,045,000 after acquiring an additional 215,084 shares in the last quarter. 36.76% of the stock is owned by institutional investors and hedge funds.

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.