Dayforce (NYSE:DAY) COO Sells $137,900.00 in Stock

Key Points

• Stephen Holdridge, COO of Dayforce, sold 2,000 shares for a total of $137,900, reducing his position by 1.06% and retaining ownership of 186,811 shares.
• Dayforce reported $0.61 EPS for the last quarter, exceeding estimates by $0.09, with a revenue of $464.70 million, reflecting a 9.8% increase year-over-year.
• Analysts have mixed ratings on Dayforce, with one analyst giving a Strong Buy rating, three giving Buy, and twelve issuing a Hold rating, leading to an average price target of $71.43.

Dayforce, Inc. (NYSE:DAY - Get Free Report) COO Stephen Holdridge sold 2,000 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $68.95, for a total transaction of $137,900.00. Following the sale, the chief operating officer owned 186,811 shares in the company, valued at approximately $12,880,618.45. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Dayforce Trading Down 0.3%

NYSE:DAY traded down $0.21 during trading hours on Wednesday, reaching $68.86. The company's stock had a trading volume of 3,668,725 shares, compared to its average volume of 2,080,226. The firm has a 50-day simple moving average of $61.63 and a 200-day simple moving average of $58.59. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 229.54, a PEG ratio of 2.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data 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. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The firm had revenue of $464.70 million for the quarter, compared to analysts' expectations of $457.83 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts expect that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DAY shares. Piper Sandler raised shares of Dayforce to a "strong-buy" rating in a research note on Tuesday, August 19th. Jefferies Financial Group lifted their target price on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. UBS Group boosted their price objective on shares of Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Needham & Company LLC lowered shares of Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday, August 22nd. Finally, Citigroup reissued a "neutral" rating and set a $70.00 price objective on shares of Dayforce in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $71.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC purchased a new stake in Dayforce during the fourth quarter valued at approximately $217,000. Nuveen Asset Management LLC increased its stake in Dayforce by 16.9% in the 4th quarter. Nuveen Asset Management LLC now owns 532,877 shares of the company's stock worth $38,708,000 after buying an additional 77,155 shares during the period. Quantinno Capital Management LP increased its stake in Dayforce by 13.1% in the 4th quarter. Quantinno Capital Management LP now owns 28,243 shares of the company's stock worth $2,052,000 after buying an additional 3,268 shares during the period. Two Sigma Investments LP purchased a new position in Dayforce during the fourth quarter valued at approximately $1,511,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Dayforce in the 4th quarter worth approximately $661,000.

About Dayforce

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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