Q2 Holdings IPO jumps 28% in debut
Updated 3:03 p.m. UTC March 20, 2014
Shares of Q2 Holdings jumped 28% Thursday to $16.68 in early trading, kicking off what’s expected to be a strong slate of technology IPOs in coming weeks.
The company, which provides software to financial institutions looking to secure their networks sold 7.8 million shares at $13 to raise $101 million. Reception from initial investors was already strong as the company set an expected price range between $11 and $13 a share.
Q2 Holdings trades on the New York Stock Exchange under the symbol QTWO. Of the offering, 6.3 million shares were sold by the company and 1.5 million were being sold by prior investors.
The success of Q2 Holdings comes on the heels of another successful software IPO this week of human resources software company Paylocity, which jumped 41% in is first day of trading Wednesday. It also sets up the week for more software deals to test investors’ appetite for such deals including A10 Networks and Globoforce.