Paycor HCM (NASDAQ:PYCR) Raised to Outperform at BMO Capital Markets

Paycor HCM (NASDAQ:PYCR) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $24.00 target price on the stock, up from their prior target price of $19.00. BMO Capital Markets’ target price indicates a potential upside of 20.12% from the stock’s current price.

PYCR has been the topic of several other research reports. JPMorgan Chase & Co. decreased their price target on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Paycor HCM in a research report on Friday, November 22nd. Stephens started coverage on Paycor HCM in a report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective for the company. Stifel Nicolaus dropped their target price on shares of Paycor HCM from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, UBS Group decreased their price target on shares of Paycor HCM from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycor HCM presently has an average rating of “Moderate Buy” and an average price target of $20.19.

Paycor HCM Trading Down 1.3 %

Paycor HCM stock opened at $19.98 on Thursday. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $22.65. The firm has a market capitalization of $3.59 billion, a PE ratio of -76.85, a price-to-earnings-growth ratio of 4.70 and a beta of 0.51. The firm’s 50 day simple moving average is $16.35 and its 200 day simple moving average is $14.18.

Insider Buying and Selling

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

Institutional Trading of Paycor HCM

A number of institutional investors have recently modified their holdings of PYCR. Bank of New York Mellon Corp increased its holdings in Paycor HCM by 149.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock valued at $7,722,000 after purchasing an additional 364,025 shares during the period. Marshall Wace LLP increased its stake in shares of Paycor HCM by 1,234.9% during the second quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock valued at $4,712,000 after buying an additional 343,194 shares during the period. ING Groep NV bought a new position in shares of Paycor HCM during the third quarter valued at approximately $4,615,000. Cubist Systematic Strategies LLC raised its holdings in shares of Paycor HCM by 207.5% during the second quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock valued at $5,907,000 after acquiring an additional 313,851 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Paycor HCM by 1,047.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company’s stock worth $4,562,000 after acquiring an additional 293,487 shares during the period. 36.76% of the stock is currently owned by hedge funds and other 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.