Paycor HCM (NASDAQ:PYCR) Shares Gap Down – What’s Next?

by · The Markets Daily

Paycor HCM, Inc. (NASDAQ:PYCR – Get Free Report)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $22.86, but opened at $22.12. Paycor HCM shares last traded at $22.07, with a volume of 10,914,443 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target 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. TD Cowen upgraded Paycor HCM from a “hold” rating to a “buy” rating and upped their price target for the company from $18.00 to $22.00 in a research report on Monday, December 2nd. Stifel Nicolaus lifted their price objective on Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Paycor HCM in a research note on Monday. Finally, Citigroup raised their target price on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Paycor HCM currently has an average rating of “Moderate Buy” and a consensus price target of $20.63.

Read Our Latest Stock Report on Paycor HCM

Paycor HCM Stock Performance

The company’s fifty day moving average is $18.41 and its two-hundred day moving average is $15.16. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -85.27, a P/E/G ratio of 4.79 and a beta of 0.50.

Insider Buying and Selling

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the stock in a transaction dated 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 owns 21,218 shares of the company’s stock, valued at $297,476.36. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Paycor HCM by 149.2% during the second quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock worth $7,722,000 after purchasing an additional 364,025 shares during the last quarter. Marshall Wace LLP raised its stake in Paycor HCM by 1,234.9% during the 2nd quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock valued at $4,712,000 after acquiring an additional 343,194 shares during the last quarter. ING Groep NV purchased a new stake in shares of Paycor HCM during the third quarter worth approximately $4,615,000. Cubist Systematic Strategies LLC raised its position in Paycor HCM by 207.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock worth $5,907,000 after buying an additional 313,851 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Paycor HCM by 1,047.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company’s stock worth $4,562,000 after purchasing an additional 293,487 shares in the last quarter. Institutional investors and hedge funds own 36.76% of the company’s stock.

About Paycor HCM

(Get Free Report)

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.

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