Needham downgraded Paycor HCM (PYCR) to Hold from Buy without a price target after the company entered into a definitive agreement to acquired by Paychex (PAYX) in an all-cash transaction for $22.50 per share, representing an enterprise value of approximately $4.1B.
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Read More on PYCR:
- Paychex to acquire Paycor HCM, Getty and Shutterstock to merge: Morning Buzz
- M&A News: Paychex (NASDAQ:PAYX) Will Acquire PYCR for $4.1B
- Apax Funds to sell majority stake in Paycor HCM to Paychex
- Paychex to acquire Paycor HCM for $22.50 per share in cash
- Asure Software upgraded to Buy from Hold at Lake Street