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Paylocity Jumps 51% on First Day Of Trading

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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.

Posted-In: News IPOs

 

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