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Why Paycom Software Stock Climbed 20% in January

TheMotleyFool

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Why Paycom Software Stock Climbed 20% in JanuaryPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Shares of Paycom Software (NYSE: PAYC) gained 20.2% in value last month, according to data provided by S&P Global Market Intelligence. The cloud-based provider of human capital management has posted strong results lately, which has driven stellar returns for investors over the last year.

Additionally, Paycom was added to the S&P 500 index in late January. This forced index funds to buy the stock, sending the shares to a new high toward the end of the month.

Image source: Getty Images.

Source Fool.com

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