Paycor HCM (NASDAQ:PYCR) Shares Gap Down – Here’s What Happened

Paycor HCM, Inc. (NASDAQ:PYCR) shares gapped down before the market opened 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.

Analysts Set New Price Targets

PYCR has been the topic of several research reports. Citigroup raised their price target on Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. TD Cowen raised Paycor HCM from a “hold” rating to a “buy” rating and upped their price target for the stock from $18.00 to $22.00 in a research report on Monday, December 2nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.50 price objective (down from $24.00) on shares of Paycor HCM in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Paycor HCM in a research report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Paycor HCM in a research note on Monday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Paycor HCM presently has a consensus rating of “Moderate Buy” and an average target price of $20.63.

Paycor HCM Price Performance

The business’s 50-day simple moving average is $18.41 and its two-hundred day simple moving average is $15.16. The firm 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 company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $14.02, for a total transaction of $52,196.46. Following the completion of the transaction, the director now directly owns 21,218 shares in the company, valued at approximately $297,476.36. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.39% of the stock is currently owned by insiders.

Institutional Trading of Paycor HCM

Institutional investors have recently modified their holdings of the stock. Diversified Trust Co purchased a new position in Paycor HCM in the 4th quarter valued at about $273,000. Principal Financial Group Inc. acquired a new position in shares of Paycor HCM during the third quarter valued at approximately $962,000. Franklin Resources Inc. lifted its position in shares of Paycor HCM by 2.7% in the third quarter. Franklin Resources Inc. now owns 1,734,109 shares of the company’s stock valued at $23,220,000 after acquiring an additional 46,127 shares in the last quarter. Barclays PLC boosted its stake in shares of Paycor HCM by 50.8% in the third quarter. Barclays PLC now owns 23,991 shares of the company’s stock worth $340,000 after acquiring an additional 8,079 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Paycor HCM during the third quarter worth approximately $912,000. Institutional investors and hedge funds 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.