Paycor HCM (NASDAQ:PYCR) Reaches New 52-Week Low Following Analyst Downgrade

Paycor HCM, Inc. (NASDAQ:PYCR) shares hit 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 a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price target on shares of Paycor HCM in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on Paycor HCM from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday. BMO Capital Markets dropped their price objective on Paycor HCM from $23.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday. BTIG Research began coverage on Paycor HCM in a report on Tuesday, February 6th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Robert W. Baird lowered their target price on Paycor HCM from $36.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.53.

Insider Buying and Selling at Paycor HCM

In other news, Director Jonathan Corr sold 1,508 shares of Paycor HCM 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 completion of the sale, the director now directly owns 18,480 shares of the company’s stock, valued at approximately $338,184. The transaction 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 business’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 transaction of $29,001.03. Following the completion of the sale, the insider now owns 107,581 shares in the company, valued at approximately $1,978,414.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Corr sold 1,508 shares of the company’s 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 completion of the transaction, the director now owns 18,480 shares of the company’s stock, valued at approximately $338,184. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC increased its position in shares of Paycor HCM by 0.5% during the third quarter. Clearbridge Investments LLC now owns 5,682,420 shares of the company’s stock worth $129,730,000 after purchasing an additional 25,925 shares in the last quarter. Vanguard Group Inc. increased its position in Paycor HCM by 4.5% during the third quarter. Vanguard Group Inc. now owns 5,474,111 shares of the company’s stock worth $124,974,000 after buying an additional 237,398 shares during the period. Van Berkom & Associates Inc. purchased a new stake in Paycor HCM in the third quarter valued at approximately $19,610,000. Fifth Third Bancorp boosted its holdings in shares of Paycor HCM by 1,611.7% in the fourth quarter. Fifth Third Bancorp now owns 408,173 shares of the company’s stock valued at $8,812,000 after acquiring an additional 384,327 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Paycor HCM by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 353,657 shares of the company’s stock worth $8,074,000 after acquiring an additional 79,976 shares during the last quarter. 36.76% of the stock is owned by hedge funds and other institutional investors.

Paycor HCM Trading Down 15.7 %

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

Paycor HCM (NASDAQ:PYCR) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Paycor HCM had a negative net margin of 13.82% and a positive return on equity of 1.28%. The business had revenue of $159.54 million during the quarter, compared to analyst estimates of $155.49 million. As a group, sell-side analysts forecast that Paycor HCM, Inc. will post 0.15 earnings per share 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.