BMO Capital Markets Forecasts Strong Price Appreciation for Paycor HCM (NASDAQ:PYCR) Stock

Paycor HCM (NASDAQ:PYCR) had its price objective hoisted by BMO Capital Markets from $15.00 to $19.00 in a report published on Thursday, Marketbeat Ratings reports. They currently have a market perform rating on the stock.

A number of other equities research analysts have also issued reports on PYCR. JPMorgan Chase & Co. cut their price target on Paycor HCM from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Mizuho lowered their price target on Paycor HCM from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. UBS Group dropped their price target on Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. The Goldman Sachs Group reduced their price objective on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Finally, Stephens assumed coverage on shares of Paycor HCM in a research report on Wednesday, October 16th. They set an “overweight” rating and a $18.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.06.

Paycor HCM Price Performance

PYCR stock opened at $17.13 on Thursday. The business’s 50-day moving average price is $14.29 and its 200-day moving average price is $13.73. The stock has a market cap of $3.06 billion, a P/E ratio of -65.88, a PEG ratio of 5.15 and a beta of 0.42. Paycor HCM has a twelve month low of $10.92 and a twelve month high of $22.65.

Paycor HCM (NASDAQ:PYCR) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $164.80 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted ($0.01) earnings per share. On average, equities research analysts expect that Paycor HCM will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeremy Rishel sold 3,723 shares of the firm’s 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 completion of the sale, the director now directly owns 21,218 shares in the company, 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 through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

Hedge funds have recently added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC boosted its position in shares of Paycor HCM by 434.5% during the second quarter. Prevail Innovative Wealth Advisors LLC now owns 118,998 shares of the company’s stock valued at $1,511,000 after buying an additional 96,736 shares during the period. SG Americas Securities LLC purchased a new position in Paycor HCM during the 1st quarter valued at $811,000. Comerica Bank grew its position in Paycor HCM by 40.8% in the 1st quarter. Comerica Bank now owns 487,747 shares of the company’s stock valued at $9,482,000 after acquiring an additional 141,391 shares during the last quarter. Clearbridge Investments LLC increased its stake in Paycor HCM by 1.9% in the first quarter. Clearbridge Investments LLC now owns 6,344,522 shares of the company’s stock worth $123,338,000 after purchasing an additional 116,118 shares during the period. Finally, Swiss National Bank lifted its position in shares of Paycor HCM by 14.8% during the first quarter. Swiss National Bank now owns 140,200 shares of the company’s stock worth $2,725,000 after purchasing an additional 18,100 shares during the last quarter. 36.76% of the stock is currently owned by institutional investors.

Paycor HCM Company Profile

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.