Paycor HCM (NASDAQ:PYCR) Downgraded by Raymond James to Hold

Raymond James downgraded shares of Paycor HCM (NASDAQ:PYCR - Free Report) from a moderate buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $22.50 target price (down previously from $24.00) on shares of Paycor HCM in a report on Wednesday, January 8th. Needham & Company LLC cut Paycor HCM from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Mizuho lifted their price objective 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. Stifel Nicolaus increased their target price on shares of Paycor HCM from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Citigroup lifted their price target on shares of Paycor HCM from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $20.91.

Paycor HCM Stock Performance

Shares of Paycor HCM stock traded down $0.01 during trading on Monday, reaching $22.08. The company had a trading volume of 6,003,763 shares, compared to its average volume of 7,496,277. Paycor HCM has a fifty-two week low of $10.92 and a fifty-two week high of $23.49. The firm's fifty day moving average is $18.93 and its 200-day moving average is $15.46. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -84.92, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in shares of Paycor HCM by 1,234.9% during the second quarter. Marshall Wace LLP now owns 370,985 shares of the company's stock valued at $4,712,000 after purchasing an additional 343,194 shares in the last quarter. ING Groep NV acquired a new position in Paycor HCM during the 3rd quarter valued at about $4,615,000. Cubist Systematic Strategies LLC increased its stake in Paycor HCM by 207.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company's stock valued at $5,907,000 after buying an additional 313,851 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Paycor HCM by 1,047.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company's stock worth $4,562,000 after buying an additional 293,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Paycor HCM by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,664,711 shares of the company's stock valued at $21,140,000 after acquiring an additional 192,633 shares in 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.