Paylocity climbs in 1st day on Nasdaq

NEW YORK — 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.

More in Herald Business Journal

Happy accident leads Edmonds couple to make Hunniwater drink

The latest line of energy drinks by Karin and Eric… Continue reading

Single payer is no panacea for our costly health care system

We must address the cost of health care before designing an insurance system.

Voters are on the sidelines as the port fills a vacant seat

Troy McClelland resigned from the Port of Everett commission too late for an election before 2019.

Career Fair planned next week at Tulalip Resort Casino

The Snohomish County Career Fair is planned from 10 a.m. to 2… Continue reading

American Farmland Trust president to speak in Mount Vernon

American Farmland Trust President John Piotti plans to give a talk about… Continue reading

In new setback, Uber to lose license to work in London

The company, beset by litany of scandals, was told it was not “fit and proper” to keep operating there.

Not home? Walmart wants to walk in and stock your fridge

The retailer is trying out the service with tech-savvy shoppers who have internet-connected locks.

Trade panel: Cheap imports hurt US solar industry

The ruling raises the possibility of tariffs that could double the price of solar panels.

Agent joins Re/Max in Smokey Point

Dennis Roland joined the Re/Max Elite Smokey Point office. The Navy veteran… Continue reading

Most Read