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

Key Points

• Price Rowe Associates Inc/M, a major shareholder of Dayforce, sold 4,499 shares for approximately $307,641.62, reducing their ownership by 0.02% to 24,797,115 shares.
• Dayforce's shares dipped 0.3% to $68.20, with a market cap of $10.89 billion and solid trading volumes between 2 million and 2.1 million shares.
• The company's most recent earnings report showed an EPS of $0.61, exceeding expectations, with revenue of $464.70 million reflecting a 9.8% year-over-year increase.

Dayforce, Inc. (NYSE:DAY - Get Free Report) major shareholder Price Rowe Associates Inc /M sold 4,499 shares of the company's stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $68.38, for a total transaction of $307,641.62. Following the completion of the sale, the insider owned 24,797,115 shares of the company's stock, valued at approximately $1,695,626,723.70. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Dayforce Trading Down 0.3%

Shares of DAY traded down $0.19 during trading hours on Tuesday, reaching $68.20. The stock had a trading volume of 2,008,237 shares, compared to its average volume of 2,121,692. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Dayforce, Inc. has a 52 week low of $48.01 and a 52 week high of $82.69. The firm has a 50-day moving average of $65.91 and a 200 day moving average of $60.17. The company has a market cap of $10.89 billion, a P/E ratio of 227.32, a P/E/G ratio of 2.51 and a beta of 1.17.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 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 business had revenue of $464.70 million during the quarter, compared to analysts' expectations of $457.83 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dayforce

A number of large investors have recently modified their holdings of DAY. MUFG Securities EMEA plc acquired a new position in shares of Dayforce during the 2nd quarter worth about $26,000. SVB Wealth LLC acquired a new position in shares of Dayforce during the 1st quarter worth about $30,000. Assetmark Inc. boosted its stake in shares of Dayforce by 701.4% during the 2nd quarter. Assetmark Inc. now owns 561 shares of the company's stock worth $31,000 after buying an additional 491 shares during the last quarter. National Pension Service boosted its stake in shares of Dayforce by 74.5% during the 1st quarter. National Pension Service now owns 541 shares of the company's stock worth $32,000 after buying an additional 231 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Dayforce by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 715 shares of the company's stock worth $40,000 after buying an additional 240 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on DAY. William Blair cut shares of Dayforce from an "outperform" rating to a "hold" rating in a research report on Wednesday, August 20th. Wells Fargo & Company raised shares of Dayforce from a "strong sell" rating to an "equal weight" rating and upped their target price for the stock from $50.00 to $70.00 in a research note on Friday, August 22nd. Piper Sandler raised shares of Dayforce to a "strong-buy" rating in a research note on Tuesday, August 19th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $70.00 target price (down from $72.00) on shares of Dayforce in a research note on Friday, September 19th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dayforce in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Dayforce presently has a consensus rating of "Hold" and an average 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.

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