Paylocity Jumps 51% on First day of Trading

This morning, March 19, 2014, Paylocity PCTY debuted on Wall Street. Shares skyrocketed on their first day of trading on the Nasdaq and is listed under the ticker symbol PCTY. Paylocity is a cloud based provider of payroll and HCM software solutions. Paylocity originally priced the Initial Public Offering or IPO of seven million shares at $17 per share. This was over the original estimate of $14 to 16 per share. Paylocity kicked off this week to a great start as ten other companies are scheduled to go public this week. On the opening bell shares of the payroll company hit $31 per share. This was way above the already high $17 per share. Unfortunately, shares then trended downward and are currently at $25.77 and are up $8.77 or 51.59 percent.