We recently compiled a list of the Investor Optimism Boosts Jump of These 10 Stocks. In this article, we are going to take a look at where Paycor HCM Inc. (NASDAQ:PYCR) stands against the other stocks.

Wall Street’s main indices ended Monday’s trading session on a mixed note, with the Dow Jones Industrial Average the only decliner, dipping by 0.06 percent or 25.57 points to close at 42,706.56.

In contrast, the S&P 500 and Nasdaq Composite both registered gains, up 0.45 percent and 1.24 percent, respectively.

Monday's overall rally was largely driven by strong performances in the bitcoin mining and quantum computing sectors, with 10 companies seeing notable gains.

To come up with the day's top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of a server running a cloud-native platform, symbolizing the power of the software-as-a-service (SaaS) business area.

Paycor HCM Inc. (NASDAQ:PYCR)

Shares of Paycor HCM rallied by 23.3 percent on Monday, ending the day at $22.86 apiece, following news that it was set to be acquired by its larger rival Paychex.

According to reports citing experts privy to the matter, a deal may be officially announced as soon as this week, but noted that nothing is finalized and talks could still fall through.

If it pushes through, the potential acquisition will mark the largest deal to date from New York-based Paychex, which offers human resources, employee benefits, insurance, and payroll services to more than 745,000 customers in the US and Europe.

Paycor is a software company offering human resources and payroll solutions for small and midsize businesses.

Overall PYCR ranks 2nd on our list of the stocks that soared today. While we acknowledge the potential of PYCR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PYCR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.