Bessemer Group Inc. Reduces Position in Dayforce, Inc. $DAY

Bessemer Group Inc. decreased its holdings in Dayforce, Inc. (NYSE:DAY) by 30.8% in the second quarter, HoldingsChannel.com reports. The fund owned 7,780 shares of the company’s stock after selling 3,470 shares during the period. Bessemer Group Inc.’s holdings in Dayforce were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Dayforce by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,620,415 shares of the company’s stock worth $969,470,000 after acquiring an additional 1,387,943 shares during the period. EdgePoint Investment Group Inc. increased its holdings in shares of Dayforce by 55.0% during the first quarter. EdgePoint Investment Group Inc. now owns 13,860,521 shares of the company’s stock valued at $808,484,000 after acquiring an additional 4,918,825 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Dayforce by 36.0% during the first quarter. Invesco Ltd. now owns 3,583,632 shares of the company’s stock valued at $209,033,000 after acquiring an additional 948,436 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Dayforce by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,460,591 shares of the company’s stock worth $85,196,000 after buying an additional 60,963 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in Dayforce by 27.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 960,484 shares of the company’s stock worth $56,025,000 after buying an additional 208,078 shares in the last quarter.

Dayforce Stock Performance

Shares of Dayforce stock opened at $68.74 on Monday. Dayforce, Inc. has a 52 week low of $48.01 and a 52 week high of $82.69. The company has a market capitalization of $11.00 billion, a PE ratio of -73.12, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20. The stock’s fifty day moving average is $68.87 and its two-hundred day moving average is $61.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). Dayforce had a positive return on equity of 6.54% and a negative net margin of 7.91%.The firm had revenue of $481.60 million during the quarter, compared to analysts’ expectations of $481.22 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Dayforce’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, analysts expect that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 1,912 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total transaction of $130,494.00. Following the completion of the sale, the executive vice president directly owned 101,772 shares in the company, valued at $6,945,939. This represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Price T. Rowe Associates Inc /M sold 2,977 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $68.50, for a total value of $203,924.50. Following the sale, the insider owned 24,789,870 shares of the company’s stock, valued at $1,698,106,095. This trade represents a 0.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 24,474 shares of company stock valued at $1,676,470. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on DAY. Barclays lifted their price objective on Dayforce from $61.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, August 22nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $70.00 price objective (down from $72.00) on shares of Dayforce in a research report on Friday, September 19th. Jefferies Financial Group boosted their price target on Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Dayforce in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, Dayforce presently has an average rating of “Hold” and an average price target of $70.36.

Dayforce Profile

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.