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Paylocity climbs in its 1st day on the Nasdaq

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NEW YORK (AP) — Shares of Paylocity surged 41 percent in their first day of trading on the Nasdaq.

The cloud-based software provider’s initial public offering raised nearly $120 million, with 7 million shares pricing for $17 each. That was above the projected range of $14 to $16 per share. The company had initially expected about 6.7 million shares in the IPO, according to a regulatory filing.

Paylocity Holding Corp. offered 5 million shares, while about 2 million shares came from the selling stockholders. Paylocity won’t receive any proceeds from those shares.

The Arlington Heights, Ill., company plans to use its share of the funds, about $85 million, to pay off debt and for working capital.

Trading under the “PCTY” ticker symbol, Paylocity’s stock climbed $7.04 to end at $24.04 Wednesday.

Paylocity climbs in its 1st day on the Nasdaq

KDWN

NEW YORK (AP) — Shares of Paylocity are rising in their first day of trading on the Nasdaq.

The cloud-based software provider’s stock added $11.85, or 69.7 percent, to $28.85 in Wednesday morning trading.

Paylocity Holding Corp. priced the initial public offering of approximately 7 million shares at $17 per share. That’s above the projected range of $14 to $16 per share. The company initially expected about 6.7 million shares in the IPO, according to a regulatory filing.

Paylocity is offering 5 million shares, while about 2 million shares are being offered by selling stockholders. Paylocity won’t receive any proceeds from shares sold by the selling stockholders.

The Arlington Heights, Ill., company plans to use proceeds to pay off debt and for working capital.

The stock is trading under the “PCTY” ticker symbol.

Paylocity climbs in its 1st day on the Nasdaq

KDWN

NEW YORK (AP) — Shares of Paylocity are rising in their first day of trading on the Nasdaq.

The cloud-based software provider’s stock added $11.85, or 69.7 percent, to $28.85 in Wednesday morning trading.

Paylocity Holding Corp. priced the initial public offering of approximately 7 million shares at $17 per share. That’s above the projected range of $14 to $16 per share. The company initially expected about 6.7 million shares in the IPO, according to a regulatory filing.

Paylocity is offering 5 million shares, while about 2 million shares are being offered by selling stockholders. Paylocity won’t receive any proceeds from shares sold by the selling stockholders.

The Arlington Heights, Ill., company plans to use proceeds to pay off debt and for working capital.

The stock is trading under the “PCTY” ticker symbol.

Paylocity climbs in its 1st day on the Nasdaq

KDWN

NEW YORK (AP) — Shares of Paylocity are rising in their first day of trading on the Nasdaq.

The cloud-based software provider’s stock added $11.85, or 69.7 percent, to $28.85 in Wednesday morning trading.

Paylocity Holding Corp. priced the initial public offering of approximately 7 million shares at $17 per share. That’s above the projected range of $14 to $16 per share. The company initially expected about 6.7 million shares in the IPO, according to a regulatory filing.

Paylocity is offering 5 million shares, while about 2 million shares are being offered by selling stockholders. Paylocity won’t receive any proceeds from shares sold by the selling stockholders.

The Arlington Heights, Ill., company plans to use proceeds to pay off debt and for working capital.

The stock is trading under the “PCTY” ticker symbol.