Q2 Holdings (QTWO) Surges on First Trading Day

NEW YORK (TheStreet) -- Q2 Holdings  (QTWO) jumped more than 30% on Thursday, its first day of trading.

Q2, which provides network security software to financial institutions, priced its IPO at $13 and sold 7.8 million shares to raise $101 million. The company had set an initial expected price range of $11 to $13. Of the shares sold, 6.5 million were from the company and 1.5 million were from prior investors.

Q2's IPO is one of the first in what could be a resurgence in tech IPOs in the next several weeks. Paylocity (PCTY), another tech company, had its first day of trading on Wednesday and surged more than 40%.

As of 10:23 a.m., the stock had hit a high of $17.38.

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QTWO Chart

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