Dayforce (NYSE:DAY) COO Sells $136,500.00 in Stock

Key Points

• Dayforce's COO, Stephen Holdridge, sold 2,000 shares of stock for a total of $136,500, reducing his ownership by 1.07% to 184,811 shares.
• The company reported $0.61 earnings per share for the last quarter, exceeding analysts' expectations of $0.52, with a revenue increase of 9.8% year-over-year.
• Analysts have set a consensus price target of $70.36 for Dayforce stocks, with mixed ratings including one Strong Buy and fourteen Holds.

Dayforce, Inc. (NYSE:DAY - Get Free Report) COO Stephen Holdridge sold 2,000 shares of the firm's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total value of $136,500.00. Following the completion of the sale, the chief operating officer directly owned 184,811 shares of the company's stock, valued at $12,613,350.75. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Dayforce Trading Down 0.1%

Shares of DAY traded down $0.04 during midday trading on Friday, reaching $68.28. The company had a trading volume of 1,999,287 shares, compared to its average volume of 2,116,327. The firm has a 50 day simple moving average of $66.82 and a 200-day simple moving average of $60.35. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a market cap of $10.90 billion, a PE ratio of 227.61, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17. Dayforce, Inc. has a 1-year low of $48.01 and a 1-year high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.09. The firm had revenue of $464.70 million during the quarter, compared to the consensus estimate of $457.83 million. Dayforce had a return on equity of 7.37% and a net margin of 2.65%.The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS. Research analysts forecast that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Dayforce

Several institutional investors have recently added to or reduced their stakes in DAY. EdgePoint Investment Group Inc. increased its position in Dayforce by 55.0% during the first quarter. EdgePoint Investment Group Inc. now owns 13,860,521 shares of the company's stock worth $808,484,000 after buying an additional 4,918,825 shares during the period. Price T Rowe Associates Inc. MD increased its position in Dayforce by 9.1% during 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 buying an additional 1,387,943 shares during the period. Invesco Ltd. increased its position in Dayforce by 36.0% during the first quarter. Invesco Ltd. now owns 3,583,632 shares of the company's stock worth $209,033,000 after buying an additional 948,436 shares during the period. Assenagon Asset Management S.A. increased its position in Dayforce by 1,055.0% during the third quarter. Assenagon Asset Management S.A. now owns 567,796 shares of the company's stock worth $39,115,000 after buying an additional 518,636 shares during the period. Finally, Nuveen LLC acquired a new position in Dayforce during the first quarter worth approximately $28,416,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on DAY shares. Jefferies Financial Group raised their price objective on Dayforce from $60.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. Needham & Company LLC downgraded Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a research report on Friday, August 22nd. Wells Fargo & Company raised Dayforce from a "strong sell" rating to an "equal weight" rating and raised their price objective for the stock from $50.00 to $70.00 in a research report on Friday, August 22nd. Piper Sandler upgraded Dayforce to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, William Blair cut Dayforce from an "outperform" rating to a "hold" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $70.36.

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.

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