This Software Stock Has Soared 30%. Why Wall Street’s Excited.

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

A small software company was soaring before the market opened on Monday amid a report it’s about to be bought out by a private-equity firm.

Dayforce , which provides human resources software and had a market value of $8.4 billion as of Friday’s close, was up 31% to $69.46 in premarket trading. 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., could be taken private in a deal led by a big hotel owner, The Wall Street Journal reported.

The buyout group will be led by MCR Hotels, and Apollo Global Management will provide more than $700 million in equity, the Journal said, citing people familiar with the talks. The deal would value Soho House at about $1.8 billion, not including debt.

Soho House shares rose 16% to $8.87 in Monday’s premarket. The buyout offer will be at $9 a share, according to the report.

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