Dayforce said that it has received an overwhelmingly positive stockholder vote for a proposed $12.3 billion buyout of the HR software provider by Thoma Bravo, a month after its largest shareholder sai... ...

What Happened? Shares of HR software provider Paycom (NYSE:PAYC) fell 13.3% in the morning session after the company reported third-quarter earnings that disappointed investors, despite meeting revenue expectations. The human resource and payroll technology provider posted adjusted earnings of $1.94 per share, falling short of the consensus estimate of $1.96. While revenue of $493.3 million was slightly ahead of expectations and grew 9.2% from the previous year, the results highlighted slowing momentum. T ...

Core Viewpoint - Dayforce's largest shareholder plans to vote against Thoma Bravo's proposed $12.3 billion buyout, describing the offer as "underwhelming" and suggesting it is an attempt to take advantage of the company [1] Group 1: Shareholder Reaction - The largest shareholder's opposition indicates a lack of confidence in the buyout offer [1] - The characterization of the offer as "underwhelming" suggests that the shareholder believes the valuation does not reflect the true worth of Dayforce [1] Group 2: Buyout Details - Thoma Bravo's proposed buyout is valued at $12.3 billion, highlighting the significant financial implications for both the acquirer and the target company [1]

HR software provider Paychex on Tuesday reported higher expenses in the first quarter overshadowing a lift to its annual earnings forecast, and dragging the company's shares down 6.2% in early trading... ...

Group 1 - Shares of Workday increased by over 6% following the disclosure of a stake exceeding $2 billion by activist investor Elliott Management [1] - Elliott Management expressed support for Workday's leadership, highlighting effective management by the CEO and CFO in recent years [1] - Workday announced a stock repurchase plan of $5 billion through fiscal 2027, indicating confidence in its growth trajectory [1] Group 2 - Workday is actively pursuing acquisitions to enhance its position in artificial intelligence, including a recent $1.1 billion deal to acquire AI firm Sana [2] - The HR software sector is experiencing increased M&A activity, exemplified by Thoma Bravo's agreement to acquire Dayforce, a competitor, for $12.3 billion [2]

Group 1 - Activist investor Elliott has acquired a stake exceeding $2 billion in the HR software company [1]

Group 1 - Activist investor Elliott Management has acquired a stake exceeding $2 billion in Workday, expressing support for the company's leadership [1][2] - Workday's stock experienced a 9% increase prior to the market opening on Wednesday [1] - Elliott Management commended Workday's CEO and CFO for their effective management and strong progress in recent years [1][2] Group 2 - Elliott Management is optimistic about the multi-year plan presented at Workday's Financial Analyst Day, believing it will create significant long-term value for shareholders [2] - Workday acknowledged Elliott's support but did not provide details on specific initiatives [2] Group 3 - Workday announced a $1.1 billion acquisition of AI firm Sana, marking its third AI-related acquisition in less than two months [3] - The company is facing increased competition in the HR software sector, with rivals actively pursuing acquisitions to enhance market share and integrate AI technology into their offerings [3]