Paycor HCM’s (PYCR) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Paycor HCM (NASDAQ:PYCR) in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a $42.00 target price on the stock.

Several other equities analysts have also recently issued reports on the stock. Jefferies Financial Group reiterated a hold rating and set a $22.00 price target (down previously from $27.00) on shares of Paycor HCM in a research report on Friday, January 5th. BTIG Research began coverage on shares of Paycor HCM in a research report on Tuesday, February 6th. They set a buy rating and a $26.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $27.35.

Paycor HCM Stock Up 1.0 %

Shares of NASDAQ:PYCR opened at $17.62 on Thursday. The company has a 50-day moving average price of $19.18 and a 200-day moving average price of $20.36. Paycor HCM has a 12 month low of $16.56 and a 12 month high of $27.50.

Paycor HCM (NASDAQ:PYCR) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $159.54 million for the quarter, compared to the consensus estimate of $155.49 million. Paycor HCM had a negative net margin of 13.82% and a positive return on equity of 1.28%. Equities analysts expect that Paycor HCM will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Paycor HCM 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 value of $27,596.40. Following the sale, the director now owns 18,480 shares in the company, valued at $338,184. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Alice L. Geene sold 1,577 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were 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 $1,978,414.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Corr sold 1,508 shares of the company’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 transaction of $27,596.40. Following the completion of the transaction, the director now owns 18,480 shares in the company, valued at approximately $338,184. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYCR. Van Berkom & Associates Inc. bought a new position in Paycor HCM during the third quarter valued at approximately $19,610,000. Conestoga Capital Advisors LLC raised its position in Paycor HCM by 19.8% in the fourth quarter. Conestoga Capital Advisors LLC now owns 4,793,121 shares of the company’s stock worth $103,483,000 after acquiring an additional 793,590 shares during the period. Vanguard Group Inc. raised its position in Paycor HCM by 12.8% in 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. Norges Bank bought a new position in Paycor HCM in the fourth quarter worth approximately $15,054,000. Finally, Riverbridge Partners LLC raised its position in Paycor HCM by 49.4% in the fourth quarter. Riverbridge Partners LLC now owns 1,885,899 shares of the company’s stock worth $40,717,000 after acquiring an additional 623,998 shares during the period. Institutional investors own 36.76% of the company’s stock.

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.