Nuveen LLC Makes New $28.42 Million Investment in Dayforce, Inc. $DAY

Nuveen LLC purchased a new position in shares of Dayforce, Inc. (NYSE:DAY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 487,160 shares of the company's stock, valued at approximately $28,416,000. Nuveen LLC owned approximately 0.31% of Dayforce as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Aigen Investment Management LP purchased a new stake in Dayforce during the 1st quarter worth about $436,000. Invesco Ltd. grew its holdings in shares of 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 in the last quarter. Covestor Ltd grew its holdings in shares of Dayforce by 15.6% during the first quarter. Covestor Ltd now owns 1,430 shares of the company's stock worth $83,000 after buying an additional 193 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Dayforce by 71.9% during the first quarter. National Bank of Canada FI now owns 67,670 shares of the company's stock worth $3,943,000 after buying an additional 28,305 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Dayforce by 13.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 282,538 shares of the company's stock worth $16,480,000 after buying an additional 32,997 shares in the last quarter.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction of $110,020.00. Following the transaction, the chief operating officer owned 190,811 shares in the company, valued at $10,496,513.11. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samer Alkharrat sold 4,659 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $59.69, for a total value of $278,095.71. Following the transaction, the executive vice president owned 127,632 shares in the company, valued at approximately $7,618,354.08. This represents a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,382 shares of company stock worth $539,860 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Dayforce Trading Up 2.3%

DAY stock traded up $1.5450 during midday trading on Thursday, reaching $68.9450. 11,224,478 shares of the company's stock traded hands, compared to its average volume of 2,061,484. The company has a market capitalization of $11.01 billion, a P/E ratio of 229.87, a PEG ratio of 2.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69. The business has a 50-day moving average price of $56.84 and a two-hundred day moving average price of $58.18.

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

Wall Street Analyst Weigh In

Several research firms have commented on DAY. Citigroup lifted their target price on shares of Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Piper Sandler upgraded Dayforce to a "strong-buy" rating in a report on Tuesday. UBS Group lifted 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. BMO Capital Markets restated an "outperform" rating on shares of Dayforce in a report on Tuesday, June 10th. Finally, Barclays boosted their target price on shares of Dayforce from $60.00 to $61.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $70.93.

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.