Private equity firm Thoma Bravo is reportedly in talks to acquire Dayforce Inc ( DAY ). . Dayforce ( DAY ), formerly Ceridian, which offers human resources software and services.

The company has a market value of approximately $8.4 billion, according to data from Benzinga Pro.

Sources said that the buyout firm is preparing to take the Minneapolis-based company private, with a deal possibly announced in the coming weeks. They added that talks are advanced but could still face delays, collapse, or attract another bidder.

Bloomberg noted that Dayforce ( DAY ) shares are down roughly 60% from their 2021 peak. Despite revenue climbing more than 70% from 2021 to 2024 and improved profitability, the enterprise software sector has struggled to sustain growth after the Covid-era surge, as companies cut back on upgrades once offices reopened in a weaker economy.

Also Read: Dayforce ( DAY ): Native Platform To Drive Deal Growth, Says Bullish Analyst

The company reported second-quarter adjusted earnings of 61 cents, beating the consensus of 52 cents. Sales reached $464.7 million, beating the consensus of $457.71 million.

Dayforce ( DAY ) expects third-quarter sales of $476 million-$486 million versus the consensus of $483.13 million.

The company revised its fiscal 2025 sales guidance from $1.93 billion to $1.94 billion, compared to the consensus of $1.94 billion.

Price Action: DAY stock is up 8.66% at $57.46 during the premarket session at the last check on Monday.

Read Next:

Web3 Sports Gamers Prefer Quick Wins Over Full Matches, Says Sweet’s Tom Mizzone