Paycor HCM (NASDAQ:PYCR) Raised to Buy at TD Cowen

TD Cowen upgraded shares of Paycor HCM (NASDAQ:PYCR) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat reports. TD Cowen currently has $22.00 target price on the stock, up from their prior target price of $18.00.

Several other equities research analysts have also issued reports on PYCR. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Paycor HCM in a research report on Friday, November 22nd. JPMorgan Chase & Co. decreased their price objective on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. BTIG Research decreased their price objective on Paycor HCM from $26.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Jefferies Financial Group lifted their price objective on Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, UBS Group decreased their price objective on Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.56.

Paycor HCM Price Performance

Shares of Paycor HCM stock opened at $18.79 on Monday. Paycor HCM has a 1 year low of $10.92 and a 1 year high of $22.65. The firm has a market cap of $3.38 billion, a PE ratio of -71.04, a P/E/G ratio of 4.52 and a beta of 0.51. The stock has a fifty day moving average price of $15.48 and a 200-day moving average price of $13.86.

Insider Activity

In other news, Director Jeremy Rishel sold 3,723 shares of Paycor HCM stock in a transaction dated 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 sale, the director now owns 21,218 shares in the company, valued at approximately $297,476.36. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.39% of the company’s stock.

Institutional Trading of Paycor HCM

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