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 to investors on Wednesday,Zacks.com reports.

PYCR has been the subject of several other research reports. Citigroup upped their price target on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Citizens Jmp cut Paycor HCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Paycor HCM in a research report on Monday, January 6th. Mizuho upped their price objective on shares of Paycor HCM from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus lifted their target price on shares of Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Paycor HCM has a consensus rating of “Hold” and a consensus target price of $20.91.

Paycor HCM Trading Down 0.1 %

Paycor HCM stock opened at $22.15 on Wednesday. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $23.49. The firm’s fifty day simple moving average is $18.68 and its 200-day simple moving average is $15.28. The company has a market capitalization of $3.98 billion, a P/E ratio of -85.19, a P/E/G ratio of 4.79 and a beta of 0.50.

Insider Transactions at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total transaction of $52,196.46. Following the completion of the transaction, the director now owns 21,218 shares in the company, valued at $297,476.36. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is owned by insiders.

Institutional Trading of Paycor HCM

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in shares of Paycor HCM by 1,923.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after purchasing an additional 2,846 shares in the last quarter. Quarry LP acquired a new position in Paycor HCM in the second quarter valued at about $69,000. Covestor Ltd grew its stake 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 buying an additional 1,210 shares during the last quarter. FMR LLC grew its stake in Paycor HCM by 93.9% during the third quarter. FMR LLC now owns 9,918 shares of the company’s stock worth $141,000 after buying an additional 4,804 shares during the last quarter. Finally, Octavia Wealth Advisors LLC acquired a new stake in shares of Paycor HCM during the third quarter worth approximately $143,000. 36.76% of the stock is currently owned by institutional investors.

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.