Brown Capital Management LLC Cut Stake in Paycom Software INC (PAYC) by $9.83 Million

June 13, 2018 - By Ash

Paycom Software, Inc. (NYSE:PAYC) Logo

Brown Capital Management Llc decreased its stake in Paycom Software Inc (PAYC) by 2.08% based on its latest 2018Q1 regulatory filing with the SEC. Brown Capital Management Llc sold 91,834 shares as the company’s stock rose 4.55% while stock markets declined. The institutional investor held 4.33 million shares of the technology company at the end of 2018Q1, valued at $465.36M, down from 4.43 million at the end of the previous reported quarter. Brown Capital Management Llc who had been investing in Paycom Software Inc for a number of months, seems to be less bullish one the $6.68 billion market cap company. The stock increased 2.46% or $2.72 during the last trading session, reaching $113.17. About 300,401 shares traded. Paycom Software, Inc. (NYSE:PAYC) has risen 57.82% since June 13, 2017 and is uptrending. It has outperformed by 45.25% the S&P500.

Brown Capital Management Llc, which manages about $7.02 billion and $8.81B US Long portfolio, upped its stake in Ellie Mae Inc (NYSE:ELLI) by 53,744 shares to 2.83M shares, valued at $260.10M in 2018Q1, according to the filing. It also increased its holding in Neogen Corp (NASDAQ:NEOG) by 1.75M shares in the quarter, for a total of 6.99M shares, and has risen its stake in Vocera Communications Inc (NYSE:VCRA).

Analysts await Paycom Software, Inc. (NYSE:PAYC) to report earnings on August, 7. They expect $0.36 earnings per share, up 50.00 % or $0.12 from last year’s $0.24 per share. PAYC’s profit will be $21.26M for 78.59 P/E if the $0.36 EPS becomes a reality. After $0.69 actual earnings per share reported by Paycom Software, Inc. for the previous quarter, Wall Street now forecasts -47.83 % negative EPS growth.

More notable recent Paycom Software, Inc. (NYSE:PAYC) news were published by: Bizjournals.com which released: “Paycom to relocate Texas operations center to Grapevine in 1000-job move” on June 07, 2018, also Businesswire.com with their article: “Paycom Plans to Relocate Its Texas Operations Center to Grapevine, Texas” published on June 06, 2018, Globenewswire.com published: “Recent Analysis Shows Paycom Software, American Renal Associates, Knowles, Timken, Nevro, and Unisys Market …” on May 15, 2018. More interesting news about Paycom Software, Inc. (NYSE:PAYC) were released by: Businesswire.com and their article: “Paycom Announces San Diego as Newest Office” published on June 04, 2018 as well as Fool.com‘s news article titled: “10 Reasons Why I’m Selling All of My Apple Stock” with publication date: June 10, 2018.

Paycom Software, Inc. (NYSE:PAYC) Ratings Coverage

Among 11 analysts covering Paycom (NYSE:PAYC), 5 have Buy rating, 0 Sell and 6 Hold. Therefore 45% are positive. Paycom had 17 analyst reports since January 11, 2018 according to SRatingsIntel. The rating was downgraded by Barclays Capital to “Equal-Weight” on Thursday, April 12. On Wednesday, February 7 the stock rating was maintained by Stifel Nicolaus with “Buy”. On Wednesday, February 7 the stock rating was maintained by Credit Suisse with “Neutral”. First Analysis downgraded Paycom Software, Inc. (NYSE:PAYC) on Wednesday, May 2 to “Hold” rating. The rating was maintained by RBC Capital Markets on Wednesday, January 17 with “Hold”. The firm earned “Buy” rating on Tuesday, February 6 by Robert W. Baird. The firm has “Overweight” rating given on Tuesday, March 13 by KeyBanc Capital Markets. Credit Suisse maintained Paycom Software, Inc. (NYSE:PAYC) on Wednesday, May 2 with “Neutral” rating. The stock has “Hold” rating by Stifel Nicolaus on Friday, March 23. As per Thursday, January 11, the company rating was maintained by Northland Capital.

Paycom Software, Inc. (NYSE:PAYC) Ratings Chart

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