Dayforce (NYSE:DAY) EVP William Everett Mcdonald Sells 1,912 Shares of Stock

Key Points

• William Everett Mcdonald, EVP of Dayforce, sold 1,912 shares at an average price of $68.25, which decreased his ownership by 1.84% and leaves him with approximately $6.94 million in stock.
• Dayforce reported a 9.8% increase in quarterly revenue year-over-year, with earnings per share coming in at $0.61, surpassing estimates.
• Several brokerages have recently changed their ratings on Dayforce, with Needham & Company downgrading from "buy" to "hold," and Wells Fargo upgrading from "strong sell" to "equal weight," reflecting mixed analyst sentiments.

Dayforce, Inc. (NYSE:DAY - Get Free Report) EVP William Everett Mcdonald sold 1,912 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $68.25, for a total value of $130,494.00. Following the completion of the sale, the executive vice president owned 101,772 shares of the company's stock, valued at approximately $6,945,939. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Dayforce Price Performance

Shares of DAY stock traded down $0.04 during trading on Friday, hitting $68.28. The company had a trading volume of 1,999,287 shares, compared to its average volume of 2,116,327. 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 has a market capitalization of $10.90 billion, a P/E ratio of 227.61, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17. The stock's 50-day moving average price is $66.82 and its 200 day moving average price is $60.35. Dayforce, Inc. has a one year low of $48.01 and a one year high of $82.69.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on DAY. Needham & Company LLC downgraded shares of 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. Stifel Nicolaus restated 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. Wells Fargo & Company upgraded shares of Dayforce from a "strong sell" rating to an "equal weight" rating and boosted their price objective for the company from $50.00 to $70.00 in a research report on Friday, August 22nd. William Blair downgraded shares of Dayforce from an "outperform" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, KeyCorp downgraded shares of Dayforce from an "overweight" rating to a "sector weight" rating in a research report on Friday, August 22nd. One investment 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 a consensus price target of $70.36.

Institutional Trading of Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings 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 during the period. Price T Rowe Associates Inc. MD increased its holdings 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 during the period. EdgePoint Investment Group Inc. increased its holdings in Dayforce by 17.2% in the second quarter. EdgePoint Investment Group Inc. now owns 16,244,490 shares of the company's stock valued at $899,782,000 after purchasing an additional 2,383,969 shares during the period. Dragoneer Investment Group LLC increased its holdings in Dayforce by 0.5% in the second quarter. Dragoneer Investment Group LLC now owns 4,749,842 shares of the company's stock valued at $263,094,000 after purchasing an additional 23,592 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Dayforce by 0.3% in the second quarter. Geode Capital Management LLC now owns 4,014,285 shares of the company's stock valued at $221,912,000 after purchasing an additional 13,139 shares during the period.

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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