Paycor HCM (NASDAQ:PYCR) Reaches New 12-Month High – Here’s Why

Paycor HCM, Inc. (NASDAQ:PYCR) shares hit a new 52-week high during trading on Monday . The company traded as high as $23.49 and last traded at $22.81, with a volume of 851739 shares traded. The stock had previously closed at $18.54.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Citigroup upped their price target on Paycor HCM from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. BMO Capital Markets reiterated a “market perform” rating and set a $22.50 price objective (down previously from $24.00) on shares of Paycor HCM in a research note on Wednesday. Mizuho upped their target price on shares of Paycor HCM from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.47.

Paycor HCM Price Performance

The company has a fifty day moving average of $18.27 and a two-hundred day moving average of $15.11. The stock has a market capitalization of $3.98 billion, a P/E ratio of -85.27, a price-to-earnings-growth ratio of 4.79 and a beta of 0.50.

Insider Activity

In other news, Director Jeremy Rishel sold 3,723 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total value of $52,196.46. Following the transaction, the director now directly owns 21,218 shares in the company, valued at approximately $297,476.36. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in shares of Paycor HCM by 1,923.0% during the third quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock valued at $42,000 after purchasing an additional 2,846 shares during the last quarter. Quarry LP bought a new position in Paycor HCM during the 2nd quarter worth $69,000. Covestor Ltd grew its stake in Paycor HCM by 29.4% during the 3rd quarter. Covestor Ltd now owns 5,322 shares of the company’s stock worth $76,000 after buying an additional 1,210 shares during the last quarter. FMR LLC increased its position in Paycor HCM by 93.9% in the third quarter. FMR LLC now owns 9,918 shares of the company’s stock worth $141,000 after buying an additional 4,804 shares during the period. Finally, Octavia Wealth Advisors LLC bought a new stake in Paycor HCM in the third quarter valued at $143,000. Institutional investors own 36.76% of the company’s stock.

Paycor HCM Company Profile

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.