Paycor HCM (NASDAQ:PYCR) Reaches New 1-Year Low on Analyst Downgrade

Paycor HCM, Inc. (NASDAQ:PYCR) shares 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 changing hands. The stock had previously closed at $17.50.

PYCR has been the topic of several other reports. Mizuho dropped their price target on Paycor HCM from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday. BTIG Research assumed coverage on shares of Paycor HCM in a research report on Tuesday, February 6th. They issued a “buy” rating and a $26.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Paycor HCM in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Paycor HCM from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus decreased their target price on shares of Paycor HCM from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.53.

Insider Transactions at Paycor HCM

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

Hedge Funds Weigh In On Paycor HCM

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Paycor HCM by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 234,161 shares of the company’s stock valued at $5,346,000 after purchasing an additional 14,536 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Paycor HCM by 24.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the company’s stock worth $307,000 after acquiring an additional 2,647 shares in the last quarter. TD Asset Management Inc raised its stake in Paycor HCM by 29.6% during the third quarter. TD Asset Management Inc now owns 112,176 shares of the company’s stock worth $2,561,000 after acquiring an additional 25,642 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Paycor HCM by 7.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,068,092 shares of the company’s stock valued at $70,045,000 after purchasing an additional 215,084 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Paycor HCM by 10.3% in the 3rd quarter. Fifth Third Bancorp now owns 23,846 shares of the company’s stock valued at $544,000 after purchasing an additional 2,228 shares in the last quarter. Institutional investors and hedge funds own 36.76% of the company’s stock.

Paycor HCM Stock Performance

The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -30.75, a PEG ratio of 5.87 and a beta of 0.54. The business’s 50-day moving average is $18.44 and its 200-day moving average is $19.84.

Paycor HCM (NASDAQ:PYCR) last announced its earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $159.54 million during the quarter, compared to analyst estimates of $155.49 million. Paycor HCM had a positive return on equity of 1.28% and a negative net margin of 13.82%. Equities research analysts expect that Paycor HCM, Inc. will post 0.15 EPS for the current fiscal 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.