Coupa Software shares surge on report of interest from Vista

Shares of Coupa Software Inc.
COUP,
+28.61%
surged as much as 37% Wednesday following a report that Vista Equity Partners was considering buying the company. The stock was halted for volatility at 1:28 p.m. Eastern and resumed trading at 1:39 p.m., and was last up 29%. Earlier, Bloomberg News reported on the deal. Even with the surge, shares are still down about 63% year to date, compared with a 15% decline on the S&P 500 index
SPX,
+0.60%.
By 3 p.m., as many as 9.5 million shares has traded hands, compared with a 52-week daily average volume of 2.1 million shares.