** Raymond James downgrades payroll processing firm Paycor HCM's PYCR.O shares to "market perform" from "outperform"
** Last week, Paychex said it will acquire Paycor for about $4.1 bln in cash, as the HR management firm looks to broaden its artificial intelligence capabilities and consolidate its market share
** "With Apax Partners (50%+ ownership) agreeing to the deal and PAYX as a strategic buyer, we don’t see a higher bid emerging" - Raymond James
** Brokerages Stifel and BMO Capital Markets also downgraded the stock following the deal
** PYCR shares marginally down premarket, they fell ~14% in 2024
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.