Needham & Company LLC Reiterates “Buy” Rating for Paycor HCM (NASDAQ:PYCR)

Paycor HCM (NASDAQ:PYCR)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $20.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 16.75% from the company’s current price.

PYCR has been the subject of a number of other research reports. Citigroup increased their target price on shares of Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Jefferies Financial Group increased their target price on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group decreased their price target on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 16th. UBS Group decreased their price target on Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Finally, BMO Capital Markets upped their price target on Paycor HCM from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Thursday. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.41.

Paycor HCM Price Performance

Shares of NASDAQ PYCR remained flat at $17.13 on Thursday. 856,818 shares of the stock were exchanged, compared to its average volume of 944,970. Paycor HCM has a one year low of $10.92 and a one year high of $22.65. The firm’s fifty day moving average is $14.29 and its 200 day moving average is $13.76. The company has a market capitalization of $3.06 billion, a PE ratio of -65.88, a PEG ratio of 5.15 and a beta of 0.42.

Paycor HCM (NASDAQ:PYCR) last posted its earnings results on Wednesday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $164.80 million during the quarter, compared to the consensus estimate of $161.14 million. Paycor HCM had a negative net margin of 6.72% and a positive return on equity of 3.42%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. As a group, analysts anticipate that Paycor HCM will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction 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 directly owns 21,218 shares of the company’s stock, valued at $297,476.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC increased its holdings in shares of Paycor HCM by 950.7% during the second quarter. CWM LLC now owns 2,385 shares of the company’s stock valued at $30,000 after purchasing an additional 2,158 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Paycor HCM by 1,923.0% during the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after purchasing an additional 2,846 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Paycor HCM by 52.4% during the first quarter. Advisors Asset Management Inc. now owns 3,424 shares of the company’s stock valued at $67,000 after purchasing an additional 1,178 shares during the period. Covestor Ltd boosted its stake in Paycor HCM by 29.4% during the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock valued at $76,000 after buying an additional 1,210 shares in the last quarter. Finally, Quarry LP bought a new position in Paycor HCM during the second quarter valued at about $69,000. 36.76% of the stock is owned by institutional investors and hedge funds.

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.