Paycor HCM (NASDAQ:PYCR) Reaches New 1-Year Low After Analyst Downgrade

Paycor HCM, Inc. (NASDAQ:PYCR) reached a new 52-week low on Thursday after Citigroup lowered their price target on the stock from $20.00 to $17.00. Citigroup currently has a neutral rating on the stock. Paycor HCM traded as low as $13.65 and last traded at $13.67, with a volume of 100284 shares. The stock had previously closed at $13.96.

A number of other equities research analysts have also recently weighed in on the company. Stifel Nicolaus dropped their price target on Paycor HCM from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lowered their target price on Paycor HCM from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Robert W. Baird reduced their price target on shares of Paycor HCM from $36.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. JMP Securities lowered their price objective on shares of 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 set a $42.00 target price on shares of Paycor HCM in a research report on Thursday, May 9th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Paycor HCM presently has a consensus rating of “Hold” and a consensus target price of $24.44.

Insider Activity

In other Paycor HCM news, insider Alice L. Geene sold 1,577 shares of Paycor HCM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.39, for a total value of $29,001.03. Following the completion of the transaction, the insider now directly owns 107,581 shares of the company’s stock, valued at approximately $1,978,414.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 sale, the director now directly owns 18,480 shares of the company’s stock, valued at $338,184. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alice L. Geene sold 1,577 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $18.39, for a total value of $29,001.03. Following the transaction, the insider now directly owns 107,581 shares of the company’s stock, valued at approximately $1,978,414.59. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paycor HCM

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in Paycor HCM by 1,824.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,195 shares of the company’s stock valued at $69,000 after buying an additional 3,029 shares in the last quarter. Advisors Asset Management Inc. grew its position in Paycor HCM by 52.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock worth $67,000 after acquiring an additional 1,178 shares during the last quarter. Covestor Ltd increased its holdings in Paycor HCM by 48.6% in the 3rd quarter. Covestor Ltd now owns 3,589 shares of the company’s stock worth $82,000 after purchasing an additional 1,174 shares in the last quarter. Handelsbanken Fonder AB bought a new position in Paycor HCM in the fourth quarter valued at about $203,000. Finally, Wrapmanager Inc. bought a new position in Paycor HCM in the third quarter valued at about $226,000. 36.76% of the stock is owned by institutional investors.

Paycor HCM Stock Down 4.3 %

The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -32.58, a price-to-earnings-growth ratio of 3.75 and a beta of 0.54. The stock has a 50 day moving average price of $17.26 and a 200 day moving average price of $19.35.

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.