Dayforce (DAY) Soars 26% on Acquisition Reports

We recently published 10 Stocks Shine Brighter Than Wall Street. Dayforce Inc. (NYSE:DAY) is one of Monday’s top performers.

Dayforce surged by 25.98 percent on Monday to finish at $66.62 apiece as investors gobbled up shares following reports that it was set to be acquired by private equity firm Thoma Bravo for $9.9 billion.

According to a report by Reuters, citing sources privy to the matter, a deal could be announced as early as this week or possibly next week. Meanwhile, Bloomberg said that the deal could still be delayed or fall through.

Thoma Bravo has been actively pursuing software acquisitions this year as part of its plans to take advantage of the booming artificial intelligence.

Earlier this month, Dayforce Inc. (NYSE:DAY) announced an impressive earnings performance in both the second quarter and the first half of the year.

In the quarter period, the company swung to a net income of $21.3 million from a $1.8 million net loss in the same period last year, as total revenues grew 10 percent to $464.7 million from $423.3 million year-on-year.

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In the first half, net income soared by 583 percent to $36.2 million from $5.3 million, while revenues jumped by 10.7 percent to $946.5 million from $854.8 million year-on-year.