Needham & Company LLC Downgrades Paycor HCM (NASDAQ:PYCR) to Hold

Paycor HCM (NASDAQ:PYCR - Get Free Report) was downgraded by analysts at Needham & Company LLC from a "moderate buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently commented on PYCR. TD Cowen raised Paycor HCM from a "hold" rating to a "buy" rating and boosted their target price for the stock from $18.00 to $22.00 in a report on Monday, December 2nd. Mizuho boosted their price objective on Paycor HCM from $20.00 to $22.50 and gave the stock a "neutral" rating in a research note on Wednesday. JMP Securities reaffirmed a "market outperform" rating and set a $30.00 target price on shares of Paycor HCM in a research note on Monday, January 6th. Citigroup lifted their target price on Paycor HCM from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus upped their price target on shares of Paycor HCM from $22.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Paycor HCM has an average rating of "Hold" and a consensus price target of $20.91.

Paycor HCM Trading Down 0.1 %

PYCR traded down $0.02 on Wednesday, reaching $22.15. The company had a trading volume of 5,473,541 shares, compared to its average volume of 9,160,590. Paycor HCM has a one year low of $10.92 and a one year high of $23.49. The company has a market capitalization of $3.98 billion, a P/E ratio of -85.19, a PEG ratio of 4.79 and a beta of 0.50. The company has a fifty day moving average of $18.68 and a 200-day moving average of $15.30.

Insider Buying and Selling at Paycor HCM

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the business's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $14.02, for a total value of $52,196.46. Following the transaction, the director now owns 21,218 shares in the company, valued at $297,476.36. The trade was a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.39% of the company's stock.

Institutional Investors Weigh In On Paycor HCM

Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in shares of Paycor HCM by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 67,959 shares of the company's stock worth $863,000 after buying an additional 1,560 shares during the period. Choreo LLC bought a new stake in Paycor HCM during the second quarter valued at about $150,000. Wrapmanager Inc. grew its position in shares of Paycor HCM by 25.7% in the second quarter. Wrapmanager Inc. now owns 18,908 shares of the company's stock valued at $240,000 after purchasing an additional 3,862 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Paycor HCM by 15.8% in the second quarter. Envestnet Asset Management Inc. now owns 339,041 shares of the company's stock worth $4,306,000 after purchasing an additional 46,262 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Paycor HCM by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,664,711 shares of the company's stock worth $21,140,000 after purchasing an additional 192,633 shares during the last quarter. 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.