Paycor HCM downgraded to Neutral from Outperform at Baird

Baird downgraded Paycor HCM (PYCR) to Neutral from Outperform with a price target of $22.50, down from $28. The firm now believes is highly unlikely for another bidder to emerge for the company. It epacts the pending takeover by Paychex (PAYX) to clear the regulatory hurdles.

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