Paycor HCM (NASDAQ:PYCR) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Paycor HCM (NASDAQ:PYCR) had its price target hoisted by analysts at Stifel Nicolaus from $22.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 22.55% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Stephens began coverage on Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 price objective on the stock. TD Cowen raised shares of Paycor HCM from a “hold” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $22.00 in a research note on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Paycor HCM in a research note on Friday, November 22nd. Finally, Mizuho lifted their target price on shares of Paycor HCM from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Paycor HCM currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.56.

Paycor HCM Trading Up 1.2 %

Shares of NASDAQ PYCR traded up $0.24 during midday trading on Wednesday, hitting $20.40. 220,831 shares of the company’s stock were exchanged, compared to its average volume of 933,247. The business’s fifty day moving average price is $16.63 and its two-hundred day moving average price is $14.31. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -78.46, a PEG ratio of 4.79 and a beta of 0.51. Paycor HCM has a 12-month low of $10.92 and a 12-month high of $22.35.

Insider Buying and Selling at Paycor HCM

In related news, Director Jeremy Rishel sold 3,723 shares of the company’s stock in a transaction that occurred 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 owns 21,218 shares in the company, valued at $297,476.36. This represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

Several institutional investors and hedge funds have recently modified their holdings of PYCR. Bank of New York Mellon Corp lifted its stake in Paycor HCM by 149.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock valued at $7,722,000 after acquiring an additional 364,025 shares during the period. Marshall Wace LLP lifted its holdings in shares of Paycor HCM by 1,234.9% during the 2nd quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock valued at $4,712,000 after buying an additional 343,194 shares during the period. ING Groep NV bought a new stake in shares of Paycor HCM in the third quarter worth $4,615,000. Cubist Systematic Strategies LLC boosted its position in Paycor HCM by 207.5% in the second quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock worth $5,907,000 after purchasing an additional 313,851 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Paycor HCM by 1,047.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company’s stock valued at $4,562,000 after purchasing an additional 293,487 shares during the period. 36.76% of the stock is currently 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.