Published: Oct 12, 2012 10:09 AM EDT
Updated: Oct 13, 2012 6:31 AM EDT

NEW YORK (AP) - Shares of Workday rocketed higher in their first day of trading on the New York Stock Exchange.

The stock climbed $20.12, or 72 percent, to $48.12 in early trading on Friday.

Workday Inc. provides remote storage applications for human resources and finance.

It priced the initial public offering of about 22.8 million shares at $28 per share, which was above the projected range of $24 to $26 per share. The Pleasanton, Calif.-based company raised $637 million in the offering.

The shares are trading under the "WDAY" ticker symbol.