Paycor Stock (PYCR:NSD) Analysis:
Last Closing Price: $29.79
Consensus Analyst Rating:Â Buy
12-Month Price Target: $34.89
Market CAP: $4.86 Billion
Paycor HCM (PYCR:NSD) stated on Thursday that its selling stockholders will offer 5 million Paycor stock shares to the market.
Pride Feeder LP and AIX Pride Syndication LP are issuing a total of 3.5 million and 1.5 million shares, respectively, in this offering.
Each of the selling stockholders is controlled by Apax Partners-advised investment funds.
Paycor will receive no portion of the proceeds from the sale of the selling stockholders’ shares.
Goldman Sachs & Co. LLC is acting as the offering’s underwriter.
Following the closing bell, shares are down 1.3%.
Paycor Stock-Analyst Ratings:
Goldman Sachs maintains the “Neutral” rating with Paycor stock price target of $30.
Citigroup initiated the coverage on the Paycor stock with a “Neutral” rating and $30 price target.
About Paycor HCM Inc. (PYCR:NYE):
Paycor HCM, Inc., through 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. The company’s SaaS based people management products include Cor HCM, a complete suite of HCM tools spanning HR, onboarding, payroll, compensation management, employee surveys, expenses, and reporting and analytics; Workforce Management, a solution with flexible time entry, overtime calculations, and scheduling capabilities with real-time payroll synchronization; Benefits Administration, a decision support solution to help leaders to streamline and optimize company’s benefits administration; and Talent Management, an integrated compensation and performance management solution.
It serves manufacturing, healthcare, restaurant, retail, professional services, nonprofit, and education industries through its direct sales teams. The company was founded in 1990 and is headquartered in Cincinnati, Ohio.
