JPMorgan Chase & Co. Reiterates “Underweight” Rating for Paycor HCM (NASDAQ:PYCR)

Paycor HCM (NASDAQ:PYCR)‘s stock had its “underweight” rating reissued by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $22.50 price target on the stock, up from their previous price target of $21.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 1.72% from the stock’s current price.

Several other research firms have also weighed in on PYCR. Stephens reiterated an “equal weight” rating and issued a $22.50 target price (up from $20.00) on shares of Paycor HCM in a report on Friday, January 10th. Citizens Jmp lowered Paycor HCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 9th. TD Cowen lowered Paycor HCM from a “strong-buy” rating to a “hold” rating in a research report on Monday. Citigroup boosted their price objective on Paycor HCM from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Mizuho raised their target price on shares of Paycor HCM from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.81.

Paycor HCM Price Performance

Shares of NASDAQ:PYCR opened at $22.12 on Wednesday. The firm’s 50 day simple moving average is $19.42 and its 200 day simple moving average is $15.78. Paycor HCM has a fifty-two week low of $10.92 and a fifty-two week high of $23.49. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -85.08, a P/E/G ratio of 4.17 and a beta of 0.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PYCR. MCF Advisors LLC bought a new stake in shares of Paycor HCM in the 4th quarter valued at about $27,000. International Assets Investment Management LLC raised its stake in Paycor HCM by 1,923.0% in 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 during the period. Covestor Ltd lifted its position in shares of 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 buying an additional 1,210 shares during the last quarter. Quarry LP acquired a new position in shares of Paycor HCM during the 2nd quarter worth approximately $69,000. Finally, FMR LLC raised its stake in Paycor HCM by 93.9% in the 3rd quarter. FMR LLC now owns 9,918 shares of the company’s stock valued at $141,000 after acquiring an additional 4,804 shares during the period. Institutional investors own 36.76% of the company’s stock.

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.