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

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $20.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 19.83% from the stock’s current price.

PYCR has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Stephens began coverage on shares of Paycor HCM in a report on Wednesday, October 16th. They issued an “overweight” rating and a $18.00 price objective for the company. UBS Group decreased their price objective on shares of Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Mizuho decreased their price target on shares of Paycor HCM from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus decreased their price target on shares of Paycor HCM from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Paycor HCM Stock Up 3.0 %

NASDAQ:PYCR opened at $16.69 on Thursday. The company has a fifty day moving average of $14.17 and a 200 day moving average of $13.74. Paycor HCM has a 52 week low of $10.92 and a 52 week high of $22.65. The firm has a market capitalization of $2.98 billion, a P/E ratio of -49.09, a P/E/G ratio of 4.87 and a beta of 0.42.

Paycor HCM (NASDAQ:PYCR) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $164.80 million during 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 firm’s revenue was up 17.7% compared to the same quarter last year. As a group, analysts anticipate that Paycor HCM will post 0.25 EPS for the current year.

Insider Activity at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.39% of the stock is currently owned by insiders.

Institutional Trading of Paycor HCM

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 buying an additional 710,370 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings 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 buying an additional 184,255 shares during the last quarter. Clearbridge Investments LLC boosted its holdings 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 buying an additional 116,118 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 buying an additional 192,633 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings 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 buying an additional 2,239 shares during the last quarter. 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.