Paycor HCM (NASDAQ:PYCR) Hits New 52-Week Low After Analyst Downgrade

Paycor HCM, Inc. (NASDAQ:PYCR) reached a new 52-week low during trading on Thursday after Citigroup lowered their price target on the stock from $20.00 to $17.00. Citigroup currently has a neutral rating on the stock. Paycor HCM traded as low as $13.65 and last traded at $13.67, with a volume of 100284 shares changing hands. The stock had previously closed at $13.96.

Other equities analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price target on shares of Paycor HCM in a report on Thursday, May 9th. Stifel Nicolaus decreased their price target on Paycor HCM from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their price objective on Paycor HCM from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Robert W. Baird dropped their price target on Paycor HCM from $36.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, 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 report on Thursday, May 9th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Paycor HCM currently has an average rating of “Hold” and an average price target of $24.44.

Insider Activity at Paycor HCM

In related news, Director Jonathan Corr sold 1,508 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $338,184. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jonathan Corr sold 1,508 shares of the company’s stock in a transaction 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 sale, the director now directly owns 18,480 shares of the company’s stock, valued at $338,184. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alice L. Geene sold 1,577 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 107,581 shares of the company’s stock, valued at $1,978,414.59. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Paycor HCM

Several hedge funds have recently bought and sold shares of PYCR. Clearbridge Investments LLC increased its stake in shares of Paycor HCM by 0.5% in the 3rd quarter. Clearbridge Investments LLC now owns 5,682,420 shares of the company’s stock valued at $129,730,000 after buying an additional 25,925 shares during the period. Vanguard Group Inc. raised its stake in Paycor HCM by 4.5% in the third quarter. Vanguard Group Inc. now owns 5,474,111 shares of the company’s stock valued at $124,974,000 after buying an additional 237,398 shares during the period. Van Berkom & Associates Inc. bought a new stake in Paycor HCM in the third quarter valued at approximately $19,610,000. Fifth Third Bancorp grew its position 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 purchasing an additional 384,327 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 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 buying an additional 79,976 shares in the last quarter. 36.76% of the stock is owned by hedge funds and other institutional investors.

Paycor HCM Stock Performance

The stock has a 50-day moving average of $17.37 and a 200-day moving average of $19.39.

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.