Dayforce Stock Surges 23%. Why Wall Street’s Excited.

There’s excitement on Wall Street. (Patrick Weissenberger)

Dayforce stock was soaring in early trading Monday amid a report it’s about to be bought out by a private-equity firm.

The company, which provides human resources software and had a market value of $8.4 billion as of Friday’s close, gained 23% to $65.11 just after the market opened. That’s a big turnaround —coming into the session its stock was down 27% since the start of the year.

On Sunday, Bloomberg reported that Thoma Bravo was in advanced talks to acquire the company. That could lead to a big payout for existing shareholders. An announcement could be made in the coming weeks, but talks could still break down or another buyer could emerge, the report said. It didn’t say how much the firm is considering paying for Dayforce.

Dayforce isn’t the only potential private-equity acquisition in the news today. Soho House , a members’ club with locations throughout Europe and the U.S., is also going private.

The buyout group is led by MCR Hotels, in a deal that values the company at $2.7 billion. Apollo Global Management and actor Ashton Kutcher are providing funding.

Soho House shares rose 16% to $8.83 early trading. The buyout offer will be at $9 a share.

Write to Brian Swint at brian.swint@barrons.com