Paycor HCM (NASDAQ:PYCR) Given New $20.00 Price Target at Needham & Company LLC

Paycor HCM (NASDAQ:PYCR) had its target price cut by Needham & Company LLC from $42.00 to $20.00 in a research report released on Thursday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on PYCR. The Goldman Sachs Group lowered 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 report on Monday, May 13th. Truist Financial dropped their price target on Paycor HCM from $33.00 to $20.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. Robert W. Baird decreased their price objective on Paycor HCM from $36.00 to $27.00 and set an outperform rating for the company in a research report on Thursday, May 9th. BMO Capital Markets reiterated a market perform rating and issued a $20.00 target price on shares of Paycor HCM in a report on Tuesday, June 11th. Finally, Stifel Nicolaus decreased their price target on shares of Paycor HCM from $25.00 to $22.00 and set a buy rating for the company in a report on Thursday, May 9th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Paycor HCM currently has a consensus rating of Hold and a consensus price target of $19.27.

Paycor HCM Price Performance

Paycor HCM stock opened at $13.92 on Thursday. Paycor HCM has a fifty-two week low of $10.92 and a fifty-two week high of $25.48. The firm’s 50 day simple moving average is $12.43 and its 200-day simple moving average is $15.88. The company has a market cap of $2.48 billion, a P/E ratio of -33.95, a price-to-earnings-growth ratio of 2.42 and a beta of 0.41.

Institutional Trading of Paycor HCM

Several large investors have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC raised its stake 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 valued at $129,415,000 after acquiring an additional 1,864,020 shares in the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 710,370 shares during the period. Norges Bank acquired a new stake in shares of Paycor HCM in the fourth quarter worth $15,054,000. Clearbridge Investments LLC boosted its holdings in shares of 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 buying an additional 545,984 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Paycor HCM by 54.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,201,807 shares of the company’s stock valued at $25,948,000 after buying an additional 422,785 shares during the last quarter. Institutional investors 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.