Seeking Alpha

Paylocity jumps following IPO

  • Another week, another strong cloud software IPO. After pricing its 7.045M-share IPO at $17 (above an expected range of $14-$16), Paylocity (PCTY) opened at $31 and is currently at $27.40, up 61%.
  • The cloud HR/payroll software vendor sports a market cap of $1.34B, or 17x FY13 (ended June '13) sales. Paylocity's first-day showing could bode well cloud HR software firm Paycom's (PAYC) upcoming IPO.
  • Prospectus, IPO preview
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs