TD Cowen Downgrades Paycor HCM (NASDAQ:PYCR) to Hold

Paycor HCM (NASDAQ:PYCR) was downgraded by equities research analysts at TD Cowen from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus boosted their price target on Paycor HCM from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Mizuho boosted their target price on shares of Paycor HCM from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Stephens reaffirmed an “equal weight” rating and set a $22.50 price target (up from $20.00) on shares of Paycor HCM in a research note on Friday, January 10th. Jefferies Financial Group lifted their price target on shares of Paycor HCM from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Citizens Jmp downgraded shares of Paycor HCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 9th. Fourteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.47.

Paycor HCM Price Performance

Shares of PYCR opened at $22.10 on Monday. Paycor HCM has a 1-year low of $10.92 and a 1-year high of $23.49. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -85.00, a price-to-earnings-growth ratio of 4.17 and a beta of 0.50. The firm has a 50 day simple moving average of $19.33 and a 200-day simple moving average of $15.72.

Institutional Investors Weigh In On Paycor HCM

Several hedge funds have recently modified their holdings of the stock. MCF Advisors LLC acquired a new stake in Paycor HCM during the 4th quarter valued at $27,000. International Assets Investment Management LLC lifted its holdings in Paycor HCM by 1,923.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,994 shares of the company’s stock worth $42,000 after buying an additional 2,846 shares in the last quarter. Quarry LP purchased a new position in Paycor HCM in the 2nd quarter valued at about $69,000. Covestor Ltd grew its stake in shares of Paycor HCM by 29.4% during the third quarter. Covestor Ltd now owns 5,322 shares of the company’s stock valued at $76,000 after acquiring an additional 1,210 shares in the last quarter. Finally, FMR LLC increased its position in shares of Paycor HCM by 93.9% during the third quarter. FMR LLC now owns 9,918 shares of the company’s stock worth $141,000 after acquiring an additional 4,804 shares during the last quarter. 36.76% of the stock is currently owned by hedge funds and other institutional investors.

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.