The Goldman Sachs Group Forecasts Strong Price Appreciation for Paycor HCM (NASDAQ:PYCR) Stock

Paycor HCM (NASDAQ:PYCR) had its price target hoisted by The Goldman Sachs Group from $19.00 to $21.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Paycor HCM from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. BTIG Research decreased their price target on Paycor HCM from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Jefferies Financial Group boosted their price target on Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. UBS Group lowered their target price on shares of Paycor HCM from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, BMO Capital Markets upped their price target on shares of Paycor HCM from $15.00 to $19.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.31.

Paycor HCM Price Performance

Shares of NASDAQ PYCR opened at $18.13 on Tuesday. The business has a fifty day moving average price of $15.15 and a 200 day moving average price of $13.75. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $22.65. The stock has a market capitalization of $3.26 billion, a P/E ratio of -69.73, a price-to-earnings-growth ratio of 4.45 and a beta of 0.42.

Insider Transactions at Paycor HCM

In other Paycor HCM news, Director Jeremy Rishel sold 3,723 shares of the 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 completion of the sale, the director now owns 21,218 shares in the company, valued at approximately $297,476.36. This represents a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Paycor HCM

A number of institutional investors have recently added to or reduced their stakes in PYCR. Vanguard Group Inc. raised its holdings in shares of Paycor HCM by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 6,884,980 shares of the company’s stock worth $133,844,000 after acquiring an additional 710,370 shares during the period. Bank of New York Mellon Corp raised its position in Paycor HCM by 149.2% in the second quarter. Bank of New York Mellon Corp now owns 607,996 shares of the company’s stock valued at $7,722,000 after purchasing an additional 364,025 shares during the period. Marshall Wace LLP boosted its holdings 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 period. ING Groep NV purchased a new position in shares of Paycor HCM in the third quarter valued at approximately $4,615,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Paycor HCM by 207.5% during the second quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock worth $5,907,000 after acquiring an additional 313,851 shares during the period. Hedge funds and other 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.