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Why Paycom Stock Jumped on Thursday

TheMotleyFool

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Why Paycom Stock Jumped on ThursdayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.theapi.app/temp/bee95973-d201-429b-849e-52867059bd1a.png

Shares of Paycom Software (NYSE: PAYC), a software-as-a-service provider of payroll and human resources solutions, jumped on Thursday. The stock rose as much as 13.9%, but shares were up about 9.5% by the time the market closed.

The stock's gain was likely primarily driven by bullishness in the overall market on Thursday, as well as a sharp jump in the stock prices of many growth stocks like Paycom.

Image source: Getty Images.

Source Fool.com

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