Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Paycom Software Inc shares valued at $336,233 were sold by Richison Chad R. on Oct 30 ’24. At $172.43 per share, Richison Chad R. sold 1,950 shares. The insider’s holdings dropped to 2,750,910 shares worth approximately $575.02 million following the completion of this transaction.
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Also, Richison Chad R. sold 1,950 shares, netting a total of over 336,229 in proceeds. Following the sale of shares at $172.43 each, the insider now holds 3,446,749 shares.
Before that, Richison Chad R. had sold 1,950 shares from its account. In a trade valued at $327,998, the CEO, President and Chairman traded Paycom Software Inc shares for $168.20 each. Upon closing the transaction, the insider’s holdings decreased to 1,950 shares, worth approximately $575.43 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 surge of approximately 26.55%. Over the course of the year, Paycom Software Inc shares have jumped approximately 1.12%. Shares of the company reached a 52-week high of $222.30 on 10/31/24 and a 52-week low of $139.50 on 07/09/24. A 50-day SMA is recorded $166.56, while a 200-day SMA reached $171.86. Nevertheless, trading volume fell to 2.56 million shares from 1.24 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 191.38, which, if violated, would cause prices to drop to 173.74. In the upper region, resistance lies at 224.49. The next price resistance is at 239.95. RSI (Relative Strength Index) is 85.95 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 13.73, which suggests the price will increase in the coming days. Percent R is at 21.73%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
