Do logos remind you the recycle logo?

We work on a new logo to the company. We got some feedback that it may look like the recycle symbol. Do you agree with this statement?

"ALM" stands for Application Life-cycle Management in software development industry (I meant that the cycle you see stands for a life cycle of software development.

P.S. Feel free to say if you like the logo (or not) and which one you prefer. Thank you!