Paycor HCM (NASDAQ:PYCR) Reaches New 1-Year High – Still a Buy?

Paycor HCM, Inc. (NASDAQ:PYCR)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $23.49 and last traded at $22.81, with a volume of 851739 shares changing hands. The stock had previously closed at $18.54.

Analyst Ratings Changes

Several equities research analysts have commented on PYCR shares. Jefferies Financial Group raised their price target on shares of Paycor HCM from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Mizuho raised their target price on Paycor HCM from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. JMP Securities reiterated a “market outperform” rating and set a $30.00 price target on shares of Paycor HCM in a research report on Monday. Citigroup raised their price target on Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group lifted their price objective on shares of Paycor HCM from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.47.

Paycor HCM Stock Down 3.0 %

The company’s 50-day simple moving average is $18.27 and its 200-day simple moving average is $15.11. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -85.27, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50.

Insider Buying and Selling

In other news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total value of $52,196.46. Following the transaction, the director now directly owns 21,218 shares of the company’s stock, valued at $297,476.36. This trade represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.39% of the company’s stock.

Institutional Trading of Paycor HCM

A number of hedge funds have recently modified their holdings of the business. Prevail Innovative Wealth Advisors LLC raised its position in Paycor HCM by 434.5% during the second quarter. Prevail Innovative Wealth Advisors LLC now owns 118,998 shares of the company’s stock valued at $1,511,000 after buying an additional 96,736 shares during the period. Principal Financial Group Inc. purchased a new position in Paycor HCM during the 3rd quarter valued at about $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Paycor HCM by 16.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,115 shares of the company’s stock valued at $3,450,000 after purchasing an additional 34,336 shares during the period. ING Groep NV purchased a new stake in shares of Paycor HCM in the third quarter worth approximately $4,615,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Paycor HCM by 75.6% during the third quarter. GSA Capital Partners LLP now owns 87,529 shares of the company’s stock worth $1,242,000 after purchasing an additional 37,691 shares during the period. 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.