Dayforce (NYSE:DAY) COO Stephen H. Holdridge Sells 2,000 Shares

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 H. Holdridge sold 2,000 shares of Dayforce stock in a transaction on Monday, September 15th. The stock was sold at an average price of $68.95, for a total transaction of $137,900.00. Following the transaction, the chief operating officer directly owned 186,811 shares in the company, valued at $12,880,618.45. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dayforce Stock Performance

Dayforce stock traded down $0.14 during mid-day trading on Friday, reaching $68.81. The company's stock had a trading volume of 2,993,779 shares, compared to its average volume of 1,869,307. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69. The company has a market capitalization of $10.99 billion, a P/E ratio of 229.37, 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. The firm's fifty day moving average price is $62.31 and its two-hundred day moving average price is $58.84.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DAY. MUFG Securities EMEA plc acquired a new position in Dayforce in the second quarter valued at $26,000. SVB Wealth LLC purchased a new position in shares of Dayforce in the first quarter valued at $30,000. Assetmark Inc. lifted its holdings in shares of Dayforce by 701.4% in the second quarter. Assetmark Inc. now owns 561 shares of the company's stock valued at $31,000 after purchasing an additional 491 shares in the last quarter. National Pension Service lifted its stake in Dayforce by 74.5% in the 1st quarter. National Pension Service now owns 541 shares of the company's stock valued at $32,000 after buying an additional 231 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Dayforce by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 715 shares of the company's stock valued at $40,000 after purchasing an additional 240 shares in the last quarter.

Analysts Set New Price Targets

DAY has been the topic of several recent analyst reports. Mizuho set a $70.00 target price on shares of Dayforce in a report on Friday, August 22nd. Piper Sandler upgraded shares of Dayforce to a "strong-buy" rating in a research report on Tuesday, August 19th. Stifel Nicolaus reiterated a "hold" rating and set a $70.00 target price (down from $72.00) on shares of Dayforce in a report on Friday. UBS Group boosted their price target on Dayforce from $68.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $70.00 target price (up from $67.00) on shares of Dayforce in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Dayforce currently has a consensus rating of "Hold" and a consensus target price of $70.36.

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.