Paycor HCM (NASDAQ:PYCR) Downgraded by Needham & Company LLC 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.

PYCR has been the subject of a number of other reports. The Goldman Sachs Group lifted their price objective on Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Jefferies Financial Group lifted their price target on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Citizens Jmp lowered shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus raised their price objective on shares of Paycor HCM from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup upped their target price on shares of Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Paycor HCM presently has a consensus rating of “Hold” and a consensus price target of $20.91.

Paycor HCM Stock Performance

NASDAQ:PYCR opened at $22.15 on Wednesday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -85.19, a P/E/G 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’s fifty day moving average price is $18.68 and its two-hundred day moving average price is $15.28.

Insiders Place Their Bets

In related news, Director Jeremy Rishel sold 3,723 shares of the 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 sale, the director now directly owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new stake in Paycor HCM in the 3rd quarter valued at $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Paycor HCM by 16.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,115 shares of the company’s stock valued at $3,450,000 after purchasing an additional 34,336 shares during the period. ING Groep NV acquired a new stake in shares of Paycor HCM in the 3rd quarter valued at about $4,615,000. GSA Capital Partners LLP boosted its position in shares of Paycor HCM by 75.6% during the third quarter. GSA Capital Partners LLP now owns 87,529 shares of the company’s stock worth $1,242,000 after buying an additional 37,691 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Paycor HCM during the second quarter worth about $560,000. Institutional investors and hedge funds 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.