Paycor HCM (NASDAQ:PYCR) Raised to “Buy” at TD Cowen

Paycor HCM (NASDAQ:PYCR) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat reports. The brokerage presently has a $22.00 price target on the stock, up from their previous price target of $18.00. TD Cowen’s price objective indicates a potential upside of 19.05% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Paycor HCM in a report on Friday, November 22nd. BTIG Research cut their target price on Paycor HCM from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. The Goldman Sachs Group upped their price objective on Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. UBS Group cut their target price on Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Stephens initiated coverage on Paycor HCM in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.56.

Paycor HCM Stock Up 0.2 %

PYCR stock opened at $18.48 on Monday. Paycor HCM has a 52 week low of $10.92 and a 52 week high of $22.65. The firm has a 50-day simple moving average of $15.39 and a 200-day simple moving average of $13.83. The stock has a market capitalization of $3.32 billion, a P/E ratio of -71.08, a P/E/G ratio of 4.52 and a beta of 0.51.

Insider Buying and Selling

In other news, Director Jeremy Rishel sold 3,723 shares of the company’s 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 sale, the director now owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC boosted its stake in shares of Paycor HCM by 2.8% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,841,396 shares of the company’s stock valued at $86,886,000 after buying an additional 184,255 shares during the period. Franklin Resources Inc. raised its holdings in Paycor HCM by 2.7% in the third quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock valued at $23,220,000 after acquiring an additional 46,127 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 192,633 shares during the last quarter. Geode Capital Management LLC lifted its stake in Paycor HCM by 10.9% in the third quarter. Geode Capital Management LLC now owns 1,354,846 shares of the company’s stock worth $19,231,000 after acquiring an additional 132,662 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in 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 worth $16,478,000 after acquiring an additional 86,745 shares in the last quarter. 36.76% of the stock is owned by institutional investors and hedge funds.

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.