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Recent Insider Activity Could Benefit Paycom Software Inc (PAYC)

Paycom Software Inc’s filing revealed that its Affiliate Craig Boelte acquired Company’s shares for reported $1.88 million on Aug 12 ’24. In the deal valued at $158.04 per share,11,882 shares were bought.

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Then, Richison Chad R. sold 1,950 shares, generating $308,628 in total proceeds. Upon selling the shares at $158.27, the CEO, President and Chairman now owns 2,980,808 shares.

Before that, Richison Chad R. sold 1,950 shares. Paycom Software Inc shares valued at $308,628 were divested by the CEO, President and Chairman at a price of $158.27 per share. As a result of the transaction, Richison Chad R. now holds 3,557,899 shares, worth roughly $546.88 million.

BTIG Research initiated its Paycom Software Inc [PAYC] rating to a Neutral in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Hold”. UBS began covering PAYC with “Buy” recommendation on November 07, 2023. BofA Securities revised its rating on November 02, 2023. It rated PAYC as “a Neutral” which previously was an “a Buy”.

Price Performance Review of PAYC

On Monday, Paycom Software Inc [NYSE:PAYC] saw its stock fall -2.74% to $153.71. Over the last five days, the stock has lost -2.76%. Paycom Software Inc shares have fallen nearly -25.64% since the year began. Nevertheless, the stocks have fallen -47.27% over the past one year. While a 52-week high of $299.00 was reached on 04/09/24, a 52-week low of $139.50 was recorded on 07/09/24. SMA at 50 days reached $150.65, while 200 days put it at $179.53.

Levels Of Support And Resistance For PAYC Stock

The 24-hour chart illustrates a support level at 151.84, which if violated will result in even more drops to 149.96. On the upside, there is a resistance level at 157.18. A further resistance level may holdings at 160.64. The Relative Strength Index (RSI) on the 14-day chart is 45.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.54%. Stochastics%K at 16.99% indicates the stock is a buying.

How much short interest is there in Paycom Software Inc?

A steep rise in short interest was recorded in Paycom Software Inc stocks on , dropping by -0.18 million shares to a total of 2.98 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 3.16 million shares. There was a decline of -6.1%, which implies that there is a negative sentiment for the stock.

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