Paycor HCM (NASDAQ:PYCR) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC cut shares of Paycor HCM (NASDAQ:PYCR) from a moderate buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

PYCR has been the topic of a number of other reports. TD Cowen upgraded Paycor HCM from a “hold” rating to a “buy” rating and upped their price objective for the company from $18.00 to $22.00 in a report on Monday, December 2nd. Stifel Nicolaus raised their price objective on Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group increased their target price on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Citizens Jmp downgraded shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Stephens reaffirmed an “equal weight” rating and set a $22.50 price objective (up previously from $20.00) on shares of Paycor HCM in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.91.

Paycor HCM Price Performance

PYCR opened at $22.15 on Wednesday. The company’s 50 day simple moving average is $18.68 and its two-hundred day simple moving average is $15.28. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -85.19, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $23.49.

Insider Activity at Paycor HCM

In other news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total transaction of $52,196.46. Following the transaction, the director now directly owns 21,218 shares in the company, valued at $297,476.36. This represents a 14.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paycor HCM

A number of large investors have recently bought and sold shares of PYCR. International Assets Investment Management LLC lifted its position in Paycor HCM by 1,923.0% during the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after buying an additional 2,846 shares in the last quarter. Quarry LP acquired a new stake in Paycor HCM in the 2nd quarter valued at $69,000. Covestor Ltd raised its position in Paycor HCM by 29.4% in the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock valued at $76,000 after purchasing an additional 1,210 shares during the period. FMR LLC boosted its position in shares of Paycor HCM by 93.9% in 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 period. Finally, Octavia Wealth Advisors LLC acquired a new stake in shares of Paycor HCM in the third quarter valued at about $143,000. Hedge funds and other 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.