Paycor HCM (NASDAQ:PYCR) Price Target Cut to $17.00

Paycor HCM (NASDAQ:PYCR) had its price target reduced by equities research analysts at Citigroup from $20.00 to $17.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 27.25% from the stock’s current price.

Several other research firms also recently commented on PYCR. Deutsche Bank Aktiengesellschaft dropped their target price on Paycor HCM from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. The Goldman Sachs Group decreased their price target on shares of Paycor HCM from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Stifel Nicolaus reduced their price objective on shares of Paycor HCM from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. JMP Securities lowered their target price on Paycor HCM from $32.00 to $30.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Paycor HCM in a research report on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.44.

Paycor HCM Stock Performance

Shares of NASDAQ:PYCR opened at $13.36 on Wednesday. Paycor HCM has a 52-week low of $13.31 and a 52-week high of $27.50. The company has a market capitalization of $2.38 billion, a PE ratio of -32.58, a price-to-earnings-growth ratio of 3.75 and a beta of 0.54. The company has a fifty day moving average of $17.26 and a 200-day moving average of $19.35.

Insider Buying and Selling

In other news, Director Jonathan Corr sold 1,508 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $18.30, for a total value of $27,596.40. Following the completion of the sale, the director now directly owns 18,480 shares in the company, valued at approximately $338,184. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Paycor HCM news, insider Alice L. Geene sold 1,577 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.39, for a total transaction of $29,001.03. Following the transaction, the insider now owns 107,581 shares in the company, valued at $1,978,414.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan Corr sold 1,508 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.30, for a total transaction of $27,596.40. Following the completion of the transaction, the director now directly owns 18,480 shares in the company, valued at $338,184. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in shares of Paycor HCM by 52.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock worth $67,000 after buying an additional 1,178 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Paycor HCM by 1,824.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,195 shares of the company’s stock worth $69,000 after acquiring an additional 3,029 shares during the period. Covestor Ltd boosted its position in Paycor HCM by 48.6% in the third quarter. Covestor Ltd now owns 3,589 shares of the company’s stock worth $82,000 after purchasing an additional 1,174 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Paycor HCM in the 4th quarter valued at $203,000. Finally, Archford Capital Strategies LLC purchased a new stake in shares of Paycor HCM during the 1st quarter valued at $206,000. Hedge funds and other 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.