Raymond James Downgrades Paycor HCM (NASDAQ:PYCR) to Hold

Paycor HCM (NASDAQ:PYCR) was downgraded by research analysts at Raymond James from a “moderate buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Needham & Company LLC cut shares of Paycor HCM from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 8th. TD Cowen upgraded shares of Paycor HCM from a “hold” rating to a “buy” rating and increased their target price for the stock from $18.00 to $22.00 in a report on Monday, December 2nd. Citigroup boosted 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, Mizuho upped their price target on Paycor HCM from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.91.

Paycor HCM Price Performance

PYCR opened at $22.09 on Monday. The stock’s 50 day simple moving average is $18.93 and its 200 day simple moving average is $15.46. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -84.96, a PEG ratio of 4.79 and a beta of 0.50. Paycor HCM has a 1 year low of $10.92 and a 1 year high of $23.49.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PYCR. International Assets Investment Management LLC grew its stake in shares of Paycor HCM by 1,923.0% in the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock worth $42,000 after acquiring an additional 2,846 shares during the period. Covestor Ltd grew its holdings in shares of Paycor HCM by 29.4% in the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock worth $76,000 after acquiring an additional 1,210 shares during the period. Quarry LP purchased a new position in Paycor HCM in the second quarter worth about $69,000. FMR LLC grew its stake in shares of Paycor HCM by 93.9% during the 3rd quarter. FMR LLC now owns 9,918 shares of the company’s stock valued at $141,000 after purchasing an additional 4,804 shares during the period. Finally, Octavia Wealth Advisors LLC bought a new stake in shares of Paycor HCM during the 3rd quarter valued at about $143,000. 36.76% of the stock is owned by institutional investors.

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.