Buyout Firm Allegedly Eyeing Dayforce as HR Software Company's Shares Surge.
Written by Emily J. Thompson, Senior Investment Analyst
Source: MarketWatch
Surge in Shares: Dayforce Inc. shares experienced a nearly 22% increase in premarket trading on Monday.
Buyout Speculation: The rise in shares is attributed to reports suggesting that Dayforce could be a target for a buyout.
Potential Deal Announcement: Buyout firm Thoma Bravo is expected to announce a deal to take Dayforce private within the next few weeks.
Source of Information: The information regarding the potential buyout was reported by Bloomberg, citing unnamed sources.
Analyst Views on DAY
Wall Street analysts forecast DAY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DAY is 70.00 USD with a low forecast of 70.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
1 Buy
10 Hold
0 Sell
Hold
Current: 69.250
Low
70.00
Averages
70.00
High
70.00
Current: 69.250
Low
70.00
Averages
70.00
High
70.00
About DAY
Dayforce, Inc. is a global human capital management (HCM) software company. The Company’s Dayforce, which is a flagship cloud HCM platform, provides a full suite of HCM functionality, including global human resources (HR), payroll and tax, workforce management, benefits, and talent intelligence functionality. The Company also sells Powerpay, a cloud HR and payroll solution for the Canadian small business market, through both direct sales and established partner channels. Dayforce Human Resources provides HR professionals, managers, and employees a single, complete record of all of their HR information. Dayforce Workforce Management helps organizations manage their workforces by configuring the system to meet complex employment and working time rules and policies. Dayforce Wallet is a digital payment solution that gives employees instant access to their net earnings. The Company also offer payroll and payroll-related services using legacy technology and on-premises technology.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
