Paycor HCM (NASDAQ:PYCR) Shares Gap Up – Still a Buy?

Paycor HCM, Inc. (NASDAQ:PYCR) gapped up before the market opened on Monday . The stock had previously closed at $18.06, but opened at $18.97. Paycor HCM shares last traded at $18.97, with a volume of 80,091 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on PYCR shares. BMO Capital Markets upped their price target on Paycor HCM from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Citigroup increased their price target on shares of Paycor HCM from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus decreased their target price on Paycor HCM from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. BTIG Research reduced their price objective on Paycor HCM from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group lifted their price objective on Paycor HCM from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Paycor HCM presently has a consensus rating of “Moderate Buy” and an average target price of $19.56.

Paycor HCM Trading Up 4.7 %

The business’s 50-day simple moving average is $15.30 and its two-hundred day simple moving average is $13.80. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -72.27, a P/E/G ratio of 4.42 and a beta of 0.42.

Insider Activity at Paycor HCM

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 stock was sold at an average price of $14.02, for a total value of $52,196.46. Following the completion of the transaction, the director now owns 21,218 shares in the company, valued at $297,476.36. This represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paycor HCM

Several large investors have recently added to or reduced their stakes in PYCR. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $7,722,000 after purchasing an additional 364,025 shares during the period. Marshall Wace LLP lifted its stake in Paycor HCM by 1,234.9% in the second quarter. Marshall Wace LLP now owns 370,985 shares of the company’s stock worth $4,712,000 after purchasing an additional 343,194 shares during the last quarter. ING Groep NV purchased a new stake in Paycor HCM during the 3rd quarter valued at about $4,615,000. Cubist Systematic Strategies LLC grew its holdings in shares of Paycor HCM by 207.5% in the second quarter. Cubist Systematic Strategies LLC now owns 465,097 shares of the company’s stock worth $5,907,000 after purchasing an additional 313,851 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Paycor HCM by 1,047.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 321,504 shares of the company’s stock worth $4,562,000 after acquiring an additional 293,487 shares during the last quarter. 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.