Paycor HCM (NASDAQ:PYCR) Reaches New 52-Week Low Following Analyst Downgrade

Paycor HCM, Inc. (NASDAQ:PYCR - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $32.00 to $30.00. JMP Securities currently has a market outperform rating on the stock. Paycor HCM traded as low as $15.88 and last traded at $16.22, with a volume of 141271 shares trading hands. The stock had previously closed at $17.50.

PYCR has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Paycor HCM from $21.00 to $19.00 and set a "hold" rating for the company in a report on Thursday. Mizuho dropped their price objective on shares of Paycor HCM from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday. BTIG Research began coverage on shares of Paycor HCM in a report on Tuesday, February 6th. They issued a "buy" rating and a $26.00 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $42.00 price objective on shares of Paycor HCM in a report on Thursday. Finally, BMO Capital Markets lowered their price target on shares of Paycor HCM from $23.00 to $20.00 and set a "market perform" rating for the company in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Paycor HCM currently has a consensus rating of "Hold" and a consensus target price of $25.53.

Insider Buying and Selling

In other Paycor HCM news, Director Jonathan Corr sold 1,508 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.30, for a total value of $27,596.40. Following the completion of the sale, the director now owns 18,480 shares in the company, valued at $338,184. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Alice L. Geene sold 1,577 shares of the business's stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $18.39, for a total value of $29,001.03. Following the transaction, the insider now owns 107,581 shares in the company, valued at approximately $1,978,414.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Corr sold 1,508 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.30, for a total value of $27,596.40. Following the sale, the director now directly owns 18,480 shares of the company's stock, valued at $338,184. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Conestoga Capital Advisors LLC grew its position in Paycor HCM by 38.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 6,657,141 shares of the company's stock valued at $129,415,000 after buying an additional 1,864,020 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Paycor HCM by 9.6% in the fourth quarter. Clearbridge Investments LLC now owns 6,228,404 shares of the company's stock valued at $134,471,000 after acquiring an additional 545,984 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Paycor HCM by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 6,174,610 shares of the company's stock worth $133,310,000 after acquiring an additional 700,499 shares during the period. Invesco Ltd. raised its holdings in Paycor HCM by 2.5% during the third quarter. Invesco Ltd. now owns 3,214,382 shares of the company's stock worth $73,384,000 after purchasing an additional 79,602 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Paycor HCM by 7.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,068,092 shares of the company's stock worth $70,045,000 after purchasing an additional 215,084 shares in the last quarter. Institutional investors and hedge funds own 36.76% of the company's stock.

Paycor HCM Price Performance

The stock's 50-day moving average is $18.56 and its 200 day moving average is $19.88. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -30.38, a P/E/G ratio of 5.87 and a beta of 0.54.

Paycor HCM (NASDAQ:PYCR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). Paycor HCM had a negative net margin of 13.82% and a positive return on equity of 1.28%. The business had revenue of $159.54 million during the quarter, compared to analysts' expectations of $155.49 million. Analysts anticipate that Paycor HCM, Inc. will post 0.15 EPS for the current year.

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.