Paycom Software INC (PAYC) Shareholder Brown Capital Management LLC Has Trimmed Position

June 13, 2018 - By Graig Alexander

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 4.33M shares of the technology company at the end of 2018Q1, valued at $465.36 million, down from 4.43M 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 2.83 million shares, valued at $260.10M in 2018Q1, according to the filing. It also increased its holding in Balchem Corp (NASDAQ:BCPC) by 171,994 shares in the quarter, for a total of 3.86 million shares, and has risen its stake in Sun Hydraulics Corp (NASDAQ:SNHY).

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: Fool.com which released: “10 Reasons Why I’m Selling All of My Apple Stock” on June 10, 2018, also Globenewswire.com with their article: “Recent Analysis Shows Paycom Software, American Renal Associates, Knowles, Timken, Nevro, and Unisys Market …” published on May 15, 2018, Bizjournals.com published: “Paycom to relocate Texas operations center to Grapevine in 1000-job move” on June 07, 2018. More interesting news about Paycom Software, Inc. (NYSE:PAYC) were released by: Businesswire.com and their article: “Paycom Plans to Relocate Its Texas Operations Center to Grapevine, Texas” published on June 06, 2018 as well as Businesswire.com‘s news article titled: “Paycom Announces San Diego as Newest Office” with publication date: June 04, 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. On Thursday, April 19 the stock rating was maintained by Jefferies with “Buy”. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, February 7. The firm has “Buy” rating by Northland Capital given on Thursday, January 11. KeyBanc Capital Markets maintained the shares of PAYC in report on Tuesday, March 13 with “Overweight” rating. KeyBanc Capital Markets upgraded the stock to “Overweight” rating in Tuesday, February 13 report. RBC Capital Markets maintained Paycom Software, Inc. (NYSE:PAYC) rating on Wednesday, January 17. RBC Capital Markets has “Hold” rating and $88.0 target. The rating was maintained by Mizuho on Tuesday, January 23 with “Hold”. Barclays Capital downgraded Paycom Software, Inc. (NYSE:PAYC) on Thursday, April 12 to “Equal-Weight” rating. The stock has “Overweight” rating by Barclays Capital on Wednesday, February 7. The company was downgraded on Wednesday, May 2 by First Analysis.

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

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