stock rockets 60% in its trading debut after IPO

Shares of cloud-software company Holdings Inc. surged more than 60% in Thursday trading after the stock made its public debut. The first trade was executed for $37.25 at 11:29 a.m. Eastern time. Shares recently changed hands near $36. The company priced its initial public offering on the New York Stock Exchange at $22 a share, above an already-raised range of $19 to $21 a share. makes software that helps automate financial tasks including accounts payable and invoicing. The company’s IPO comes as the Renaissance IPO ETF

IPO, -0.35%

has climbed 31% on the year and as the S&P 500

SPX, +0.53%

has increased 26%.

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