Paycor HCM's (PYCR) "Buy" Rating Reiterated at Needham & Company LLC

Paycor HCM (NASDAQ:PYCR - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $42.00 price objective on the stock. Needham & Company LLC's target price would suggest a potential upside of 138.37% from the stock's current price.

PYCR has been the subject of several other research reports. BTIG Research assumed coverage on shares of Paycor HCM in a research note on Tuesday, February 6th. They issued a "buy" rating and a $26.00 price objective for the company. Jefferies Financial Group reissued a "hold" rating and issued a $22.00 price objective (down previously from $27.00) on shares of Paycor HCM in a research note on Friday, January 5th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $27.35.

Paycor HCM Stock Performance

Shares of Paycor HCM stock traded up $0.17 on Thursday, reaching $17.62. 951,181 shares of the stock were exchanged, compared to its average volume of 738,898. The firm's 50 day moving average is $19.24 and its 200-day moving average is $20.38. Paycor HCM has a one year low of $16.56 and a one year high of $27.50. The firm has a market cap of $3.14 billion, a PE ratio of -36.35, a P/E/G ratio of 5.86 and a beta of 0.50.

Paycor HCM (NASDAQ:PYCR - Get Free Report) last issued its quarterly earnings results 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 positive return on equity of 1.28% and a negative net margin of 13.82%. The firm had revenue of $159.54 million for the quarter, compared to the consensus estimate of $155.49 million. On average, equities research analysts expect that Paycor HCM will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jonathan Corr sold 1,508 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.30, for a total transaction of $27,596.40. Following the transaction, the director now directly owns 18,480 shares of the company's stock, valued at $338,184. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Alice L. Geene sold 1,577 shares of the firm's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $18.39, for a total transaction of $29,001.03. Following the transaction, the insider now directly owns 107,581 shares of the company's stock, valued at $1,978,414.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Corr sold 1,508 shares of the firm's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $18.30, for a total transaction of $27,596.40. Following the transaction, the director now directly owns 18,480 shares in the company, valued at $338,184. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Clearbridge Investments LLC lifted its position in shares of Paycor HCM by 9.6% during the fourth quarter. Clearbridge Investments LLC now owns 6,228,404 shares of the company's stock valued at $134,471,000 after purchasing an additional 545,984 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 buying an additional 700,499 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in Paycor HCM by 19.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 4,793,121 shares of the company's stock worth $103,483,000 after buying an additional 793,590 shares during the last quarter. Invesco Ltd. increased 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 buying an additional 79,602 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased 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 buying an additional 215,084 shares during the last quarter. 36.76% of the stock is 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.