Needham & Company LLC Reaffirms "Buy" Rating for Paycor HCM (NASDAQ:PYCR)

Needham & Company LLC reiterated their buy rating on shares of Paycor HCM (NASDAQ:PYCR - Free Report) in a report issued on Thursday,Benzinga reports. They currently have a $20.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Stephens started coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They set an "overweight" rating and a $18.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on Paycor HCM from $19.00 to $17.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Stifel Nicolaus decreased their price target on shares of Paycor HCM from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Jefferies Financial Group upped their price objective on shares of Paycor HCM from $13.00 to $15.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group dropped their target price on Paycor HCM from $19.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Paycor HCM presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

Paycor HCM Stock Performance

Shares of NASDAQ PYCR traded up $0.61 during trading hours on Thursday, hitting $17.30. 1,974,960 shares of the stock were exchanged, compared to its average volume of 941,272. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $22.65. The company's fifty day simple moving average is $14.17 and its two-hundred day simple moving average is $13.74. The company has a market cap of $3.09 billion, a PE ratio of -66.23, a price-to-earnings-growth ratio of 4.87 and a beta of 0.42.

Paycor HCM (NASDAQ:PYCR - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $164.80 million for the quarter, compared to the consensus estimate of $161.14 million. Paycor HCM had a positive return on equity of 2.98% and a negative net margin of 9.00%. Paycor HCM's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. As a group, sell-side analysts expect that Paycor HCM will post 0.25 EPS for the current fiscal year.

Insider Transactions at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM stock in a transaction on 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 owns 21,218 shares in the company, valued at approximately $297,476.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing 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

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in shares of Paycor HCM by 52.4% during the first quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company's stock valued at $67,000 after buying an additional 1,178 shares during the last quarter. Covestor Ltd lifted its stake in Paycor HCM by 29.4% in the 3rd quarter. Covestor Ltd now owns 5,322 shares of the company's stock worth $76,000 after purchasing an additional 1,210 shares in the last quarter. 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 valued at $863,000 after purchasing an additional 1,560 shares during the last quarter. Fiera Capital Corp grew its position in shares of Paycor HCM by 0.9% during the second quarter. Fiera Capital Corp now owns 190,677 shares of the company's stock valued at $2,422,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Paycor HCM by 0.6% in the third quarter. Raymond James & Associates now owns 328,827 shares of the company's stock worth $4,666,000 after purchasing an additional 1,834 shares during the last quarter. 36.76% of the stock is 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.