BMO Capital Markets Reaffirms Market Perform Rating for Paycor HCM (NASDAQ:PYCR)

BMO Capital Markets reissued their market perform rating on shares of Paycor HCM (NASDAQ:PYCR - Free Report) in a research report released on Wednesday,Benzinga reports. BMO Capital Markets currently has a $22.50 price target on the stock, down from their prior price target of $24.00.

Several other brokerages also recently issued reports on PYCR. Jefferies Financial Group raised their target price on shares of Paycor HCM from $13.00 to $15.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. 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. The Goldman Sachs Group raised their price target on Paycor HCM from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Stephens started coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They issued an "overweight" rating and a $18.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Paycor HCM in a research note on Monday. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.63.

Paycor HCM Price Performance

Shares of NASDAQ PYCR remained flat at $22.17 during mid-day trading on Wednesday. The stock had a trading volume of 9,129,900 shares, compared to its average volume of 9,898,000. The company has a 50 day moving average price of $18.41 and a 200-day moving average price of $15.16. The company has a market cap of $3.98 billion, a P/E ratio of -85.27, a PEG ratio of 4.79 and a beta of 0.50. Paycor HCM has a 12 month low of $10.92 and a 12 month high of $23.49.

Insiders Place Their Bets

In other Paycor HCM 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 directly owns 21,218 shares of the company's stock, valued at $297,476.36. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.39% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Paycor HCM by 2.7% in 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 last quarter. Dimensional Fund Advisors LP boosted its position in Paycor HCM by 13.1% in 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 last quarter. Geode Capital Management LLC grew its stake in 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. increased its position in shares of Paycor HCM by 8.1% during 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 last quarter. Finally, State Street Corp raised its stake in shares of 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 during the period. 36.76% of the stock is currently owned by hedge funds and other institutional investors.

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.