Dayforce (NYSE:DAY) Major Shareholder Sells $307,641.62 in Stock

Dayforce, Inc. (NYSE:DAY) major shareholder Price Rowe Associates Inc /M sold 4,499 shares of Dayforce stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $68.38, for a total transaction of $307,641.62. Following the transaction, the insider directly owned 24,797,115 shares of the company’s stock, valued at approximately $1,695,626,723.70. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Dayforce Trading Up 0.0%

DAY stock opened at $68.31 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The company has a fifty day moving average price of $66.82 and a two-hundred day moving average price of $60.35. Dayforce, Inc. has a one year low of $48.01 and a one year high of $82.69. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 227.71, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The company had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. Dayforce’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. Equities analysts anticipate that Dayforce, Inc. will post 1.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DAY. William Blair cut shares of Dayforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 20th. Mizuho set a $70.00 target price on shares of Dayforce in a research report on Friday, August 22nd. Stifel Nicolaus reissued a “hold” rating and issued a $70.00 target price (down previously from $72.00) on shares of Dayforce in a research report on Friday, September 19th. BMO Capital Markets reissued a “market perform” rating and issued a $70.00 target price (up previously from $67.00) on shares of Dayforce in a research report on Friday, August 22nd. Finally, Needham & Company LLC cut shares of Dayforce from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a research report 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, Dayforce has a consensus rating of “Hold” and an average price target of $70.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Dayforce by 1.7% in the second quarter. Vanguard Group Inc. now owns 17,648,163 shares of the company’s stock valued at $977,532,000 after purchasing an additional 296,198 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $969,470,000 after purchasing an additional 1,387,943 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Dayforce by 17.2% during the second quarter. EdgePoint Investment Group Inc. now owns 16,244,490 shares of the company’s stock worth $899,782,000 after acquiring an additional 2,383,969 shares in the last quarter. Dragoneer Investment Group LLC raised its stake in Dayforce by 0.5% during the second quarter. Dragoneer Investment Group LLC now owns 4,749,842 shares of the company’s stock worth $263,094,000 after acquiring an additional 23,592 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Dayforce by 0.3% during the second quarter. Geode Capital Management LLC now owns 4,014,285 shares of the company’s stock worth $221,912,000 after acquiring an additional 13,139 shares in the last quarter.

Dayforce Company 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.