Needham & Company LLC Lowers Paycor HCM (NASDAQ:PYCR) Price Target to $20.00

Paycor HCM (NASDAQ:PYCR) had its target price decreased by Needham & Company LLC from $42.00 to $20.00 in a research note published on Thursday morning, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on PYCR. Mizuho dropped their price objective on Paycor HCM from $19.00 to $15.00 and set a neutral rating for the company in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut their price target on shares of Paycor HCM from $22.00 to $19.00 and set a neutral rating on the stock in a research note on Monday, May 13th. 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 note on Thursday, May 9th. Robert W. Baird dropped their price objective on shares of Paycor HCM from $36.00 to $27.00 and set an outperform rating for the company in a report on Thursday, May 9th. Finally, Jefferies Financial Group reduced their target price on shares of Paycor HCM from $14.00 to $11.00 and set a hold rating on the stock in a report on Monday, June 24th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $19.27.

Paycor HCM Price Performance

Shares of PYCR stock opened at $13.92 on Thursday. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $25.48. The firm has a market cap of $2.48 billion, a PE ratio of -33.95, a price-to-earnings-growth ratio of 2.49 and a beta of 0.41. The company has a 50-day moving average of $12.43 and a two-hundred day moving average of $15.86.

Paycor HCM (NASDAQ:PYCR) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Paycor HCM had a negative net margin of 9.00% and a positive return on equity of 2.98%. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $161.14 million. During the same period in the prior year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Paycor HCM will post 0.26 EPS for the current fiscal year.

Institutional Trading of Paycor HCM

A number of hedge funds and other institutional investors have recently bought and sold shares of PYCR. SG Americas Securities LLC acquired a new position in shares of Paycor HCM during the 1st quarter worth about $811,000. Comerica Bank boosted its holdings in Paycor HCM by 40.8% in the first quarter. Comerica Bank now owns 487,747 shares of the company’s stock valued at $9,482,000 after purchasing an additional 141,391 shares in the last quarter. Clearbridge Investments LLC increased its stake in Paycor HCM by 1.9% in the first quarter. Clearbridge Investments LLC now owns 6,344,522 shares of the company’s stock valued at $123,338,000 after purchasing an additional 116,118 shares during the last quarter. Swiss National Bank increased its stake in Paycor HCM by 14.8% in the first quarter. Swiss National Bank now owns 140,200 shares of the company’s stock valued at $2,725,000 after purchasing an additional 18,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Paycor HCM by 54.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,201,807 shares of the company’s stock worth $25,948,000 after purchasing an additional 422,785 shares in the last quarter. 36.76% of the stock is currently 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.