T. Rowe said the Dayforce stock has been pressured by “misplaced short-term pessimism” on the sector and investor focus on metrics that do not reflect the underlying strength of the business. The asset manager owns 15.7% stake in Dayforce, according to data compiled by LSEG.
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Thoma Bravo had agreed to buy Dayforce in August to strengthen its software portfolio.
Dayforce and Thoma Bravo did not immediately respond to Reuters’ requests for comment.
Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar