Paycor up as brokerages start coverage a month after Nasdaq debut

Paycor HCM

16/08/2021 14:42

** Shares of human capital management software provider
 PYCR.O  up 2.25% at $35.93 in early trading
    ** At least eight brokerages start coverage of the stock
nearly a month after its Nasdaq debut 
    ** Four brokerages start with "buy" rating, two with
"outperform", and Cowen & Co and Deutsche bank initiate with
"market perform" and "hold", respectively
    ** Cowen says it sees attractive upside in co's long-term
financial targets as PYCR executes a renewed plan in a large and
fragmented U.S. target market
    ** Jefferies says it believes gaining share in the large,
well-defined total addressable market along with ramping sales
and marketing investments will allow co to accelerate growth to
the high teens for the next several years
    ** Up to Friday's close, stock had risen ~53% from its IPO
price of $23 per share on July 21

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))