Needham & Company LLC Reiterates “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 sent to investors on Friday,Benzinga reports. Needham & Company LLC currently has a $20.00 price target on the stock.

PYCR has been the subject of several other research reports. Stifel Nicolaus cut their price target on Paycor HCM from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their price target on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. The Goldman Sachs Group cut their price target on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Stephens initiated coverage on Paycor HCM in a report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price target for the company. Finally, BTIG Research cut their price target on Paycor HCM from $26.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.06.

Paycor HCM Price Performance

Shares of PYCR opened at $17.48 on Friday. The business’s 50 day moving average is $14.88 and its 200 day moving average is $13.72. Paycor HCM has a 12-month low of $10.92 and a 12-month high of $22.65.

Insider Activity at Paycor HCM

In related 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 transaction of $52,196.46. Following the completion of the transaction, the director now owns 21,218 shares in the company, valued at $297,476.36. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycor HCM

Large investors have recently bought and sold shares of the business. Prevail Innovative Wealth Advisors LLC boosted its holdings in Paycor HCM by 434.5% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 118,998 shares of the company’s stock valued at $1,511,000 after acquiring an additional 96,736 shares during the period. Comerica Bank boosted its holdings in Paycor HCM by 40.8% during the 1st quarter. Comerica Bank now owns 487,747 shares of the company’s stock valued at $9,482,000 after acquiring an additional 141,391 shares during the period. ING Groep NV bought a new stake in Paycor HCM during the 3rd quarter valued at $4,615,000. GSA Capital Partners LLP raised its position in Paycor HCM by 75.6% during the 3rd quarter. GSA Capital Partners LLP now owns 87,529 shares of the company’s stock valued at $1,242,000 after purchasing an additional 37,691 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Paycor HCM during the 2nd quarter valued at $560,000. Hedge funds and other institutional investors own 36.76% of the company’s stock.

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.