Paycor HCM price target lowered to $30 from $32 at JMP Securities

JMP Securities analyst Patrick Walravens lowered the firm’s price target on Paycor HCM to $30 from $32 and keeps an Outperform rating on the shares. Paycor HCM reported mixed Q3 results and updated its guidance to account for potential negative same-store sales growth among existing customers, the analyst tells investors in a research note. While Paycor has struggled with lower forms filing volume in the short term, JMP continues to view Paycor as an attractive opportunity for long-term capital appreciation.