Paylocity Jumps 51% on First Day Of Trading
Shares of Paylocity (NASDAQ: PCTY) soared after its Wednesday morning debut on Wall Street.
Paylocity originally priced an IPO of seven million shares at $17 per share. This was over the originally-estimated range of $14 to 16 per share.
Paylocity is a cloud-based provider of payroll and HCM software solutions.
On the opening bell, the company hit $31 per share. Shares then trended downward and are currently at $24.04.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.