Citizens Jmp Downgrades Paycor HCM (NASDAQ:PYCR) to Hold

Citizens Jmp downgraded shares of Paycor HCM (NASDAQ:PYCR - Free Report) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently commented on PYCR. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Paycor HCM in a research note on Monday, January 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $30.00 price target on shares of Paycor HCM in a research note on Monday, January 6th. Citigroup upped their price target on Paycor HCM from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. The Goldman Sachs Group boosted their target price on shares of Paycor HCM from $19.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Finally, Mizuho increased their target price on shares of Paycor HCM from $20.00 to $22.50 and gave the stock a "neutral" rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.91.

Paycor HCM Stock Performance

Shares of PYCR stock traded down $0.02 during mid-day trading on Thursday, reaching $22.15. The company's stock had a trading volume of 5,473,541 shares, compared to its average volume of 9,160,590. The firm's 50-day moving average is $18.68 and its two-hundred day moving average is $15.30. The company has a market cap of $3.98 billion, a P/E ratio of -85.19, a PEG ratio of 4.79 and a beta of 0.50. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $23.49.

Insider Activity

In related news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM stock in a transaction 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 $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 Securities & Exchange Commission, which is available at this link. Insiders own 1.39% of the company's stock.

Hedge Funds Weigh In On Paycor HCM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYCR. Franklin Resources Inc. raised its stake in Paycor HCM by 2.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company's stock worth $23,220,000 after buying an additional 46,127 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Paycor HCM by 13.1% during the second 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 period. Geode Capital Management LLC grew its position in shares of Paycor HCM by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,354,846 shares of the company's stock valued at $19,231,000 after purchasing an additional 132,662 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Paycor HCM by 8.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,161,032 shares of the company's stock valued at $16,478,000 after purchasing an additional 86,745 shares during the period. Finally, State Street Corp increased its stake in Paycor HCM by 5.2% during the 3rd quarter. State Street Corp now owns 1,111,032 shares of the company's stock worth $15,766,000 after purchasing an additional 54,834 shares in the last quarter. Institutional investors 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.