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Cloud software provider Ceridian closes more than 40 percent up on opening day

Key Points
  • Ceridian closed at $31.21, after pricing at $22.
  • The company listed its $462 million offering on the New York Stock Exchange and Toronto Stock Exchange under the ticker symbol "CDAY."
  • It's another strong IPO for the tech sector.
A trader works on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

Cloud software developer Ceridian spiked more than 40 percent in its opening day of trading Thursday.

Shares closed nearly 42 percent up at $31.21, after pricing at $22. The jump pushes the company's valuation past $4 billion.

Ceridian listed its $462 million offering on the New York Stock Exchange and Toronto Stock Exchange under the ticker symbol "CDAY."

The company makes human resources technology called Dayforce, cloud-based software to manage payroll and benefits.

It's another strong IPO for the tech sector, following fellow cloud company Zuora's 43 percent opening jump and cloud storage provider Dropbox's 35 percent debut spike.

Goldman Sachs, J.P. Morgan, Credit Suisse and Deutsche Bank are among the underwriters.