Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Paycom Software Inc shares valued at $284,805 were sold by PETERS FREDERICK C II on Feb 20 ’24. At $189.87 per share, PETERS FREDERICK C II sold 1,500 shares. The insider’s holdings dropped to 15,067 shares worth approximately $2.6 million following the completion of this transaction.
Also, Richison Chad R. purchased 1 shares, netting a total of over 202 in proceeds. Following the buying of shares at $201.86 each, the insider now holds 4,703,908 shares.
Before that, Clark Jason D. had sold 9,005 shares from its account. In a trade valued at $1,661,899, the Chief Administrative Officer traded Paycom Software Inc shares for $184.55 each. Upon closing the transaction, the insider’s holdings decreased to 9,005 shares, worth approximately $7.62 million.
As published in their initiating research note from BTIG Research on February 06, 2024, Paycom Software Inc [PAYC] has been a Neutral. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of November 07, 2023, UBS has initiated its “Buy” rating for PAYC. Earlier on November 02, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for PAYC stock which previously was a “a Buy”.
Analyzing PAYC Stock Performance
During the last five days, there has been a drop of approximately -7.50%. Over the course of the year, Paycom Software Inc shares have dropped approximately -16.66%. Shares of the company reached a 52-week high of $207.99 on 04/09/24 and a 52-week low of $159.00 on 05/02/24. A 50-day SMA is recorded $188.56, while a 200-day SMA reached $221.75. Nevertheless, trading volume fell to 0.5 million shares from 0.75 million shares the previous day.
Support And Resistance Levels for Paycom Software Inc (PAYC)
According to the 24-hour chart, there is a support level at 170.67, which, if violated, would cause prices to drop to 169.07. In the upper region, resistance lies at 174.94. The next price resistance is at 177.61. RSI (Relative Strength Index) is 36.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.75, which suggests the price will decrease in the coming days. Percent R is at 62.77%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
