Paycor HCM (NASDAQ:PYCR) Hits New 12-Month High - What's Next?

Paycor HCM, Inc. (NASDAQ:PYCR - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $23.49 and last traded at $22.81, with a volume of 851739 shares. The stock had previously closed at $18.54.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PYCR. Stephens started coverage on Paycor HCM in a report on Wednesday, October 16th. They issued an "overweight" rating and a $18.00 target price on the stock. Jefferies Financial Group lifted their target price on Paycor HCM from $13.00 to $15.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. JMP Securities reissued a "market outperform" rating and issued a $30.00 target price on shares of Paycor HCM in a report on Monday. The Goldman Sachs Group lifted their price target on shares of Paycor HCM from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, TD Cowen raised shares of Paycor HCM from a "hold" rating to a "buy" rating and increased their price objective for the company from $18.00 to $22.00 in a research note on Monday, December 2nd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.56.

Paycor HCM Trading Up 23.3 %

The business's 50-day simple moving average is $17.96 and its two-hundred day simple moving average is $14.96. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -87.92, a P/E/G ratio of 4.79 and a beta of 0.50.

Insider Activity

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the business's 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 completion of the sale, the director now owns 21,218 shares in the company, valued at approximately $297,476.36. The trade was a 14.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.39% of the company's stock.

Hedge Funds Weigh In On Paycor HCM

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in shares of Paycor HCM by 1,923.0% in the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company's stock valued at $42,000 after purchasing an additional 2,846 shares in the last quarter. Covestor Ltd lifted its stake in Paycor HCM by 29.4% during the 3rd quarter. Covestor Ltd now owns 5,322 shares of the company's stock valued at $76,000 after acquiring an additional 1,210 shares in the last quarter. Quarry LP purchased a new position in Paycor HCM during the 2nd quarter worth $69,000. FMR LLC grew its stake in shares of Paycor HCM by 93.9% in the 3rd quarter. FMR LLC now owns 9,918 shares of the company's stock worth $141,000 after acquiring an additional 4,804 shares in the last quarter. Finally, Octavia Wealth Advisors LLC bought a new stake in shares of Paycor HCM in the 3rd quarter worth $143,000. Institutional investors and hedge funds own 36.76% of the company's stock.

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.