Private equity firm Thoma Bravo is nearing a deal to acquire HR software company Dayforce, a source familiar with the matter told Reuters on Monday. Shares of Dayforce, which has seen its stock lose more than 27% of its value so far this year,

Shares of Dayforce rose as much as 28% on Monday for their biggest intraday gain in more than seven years. Representatives for Thoma Bravo and Dayforce didn’t immediately respond to requests for comment.