Needham & Company LLC Reaffirms “Buy” Rating for Paycor HCM (NASDAQ:PYCR)

Needham & Company LLC reiterated their buy rating on shares of Paycor HCM (NASDAQ:PYCR) in a research report report published on Thursday morning,Benzinga reports. They currently have a $20.00 target price on the stock.

PYCR has been the topic of several other reports. Mizuho reduced their target price on Paycor HCM from $19.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. The Goldman Sachs Group dropped their price target on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Stephens assumed coverage on Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Truist Financial dropped their price target on Paycor HCM from $33.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.41.

Paycor HCM Stock Performance

Shares of PYCR remained flat at $17.13 during mid-day trading on Thursday. The stock had a trading volume of 856,808 shares, compared to its average volume of 944,970. Paycor HCM has a 52-week low of $10.92 and a 52-week high of $22.65. The business has a 50-day simple moving average of $14.23 and a 200-day simple moving average of $13.76.

Paycor HCM (NASDAQ:PYCR) last posted its earnings results on Wednesday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Paycor HCM had a positive return on equity of 3.42% and a negative net margin of 6.72%. The firm had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $161.14 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. Research analysts forecast that Paycor HCM will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $14.02, for a total value of $52,196.46. Following the sale, the director now directly owns 21,218 shares of the company’s stock, valued at approximately $297,476.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

Several hedge funds have recently added to or reduced their stakes in PYCR. Vanguard Group Inc. raised its stake in shares of Paycor HCM by 11.5% in the first quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company’s stock worth $133,844,000 after purchasing an additional 710,370 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Paycor HCM by 2.8% in the second quarter. Conestoga Capital Advisors LLC now owns 6,841,396 shares of the company’s stock worth $86,886,000 after purchasing an additional 184,255 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Paycor HCM by 1.9% in the first quarter. Clearbridge Investments LLC now owns 6,344,522 shares of the company’s stock worth $123,338,000 after purchasing an additional 116,118 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 192,633 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Paycor HCM by 0.3% in the first quarter. TimesSquare Capital Management LLC now owns 709,651 shares of the company’s stock worth $13,796,000 after purchasing an additional 2,239 shares during the last quarter. 36.76% of the stock is owned by institutional investors.

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.