XTX Topco Ltd Invests $486,000 in Dayforce, Inc. (NYSE:DAY)

Key Points

• XTX Topco Ltd has purchased 8,340 shares of Dayforce, Inc., valued at approximately $486,000, marking a notable investment in the company.
• Insiders have sold 9,382 shares of Dayforce stock worth around $539,860 in the past 90 days, indicating potential insider confidence shifts.
• Analysts maintain a "Moderate Buy" rating on Dayforce, with an average price target of $70.93, despite mixed outlooks from various firms.

XTX Topco Ltd purchased a new position in Dayforce, Inc. (NYSE:DAY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,340 shares of the company's stock, valued at approximately $486,000.

Other large investors also recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Dayforce by 26.4% during the 1st quarter. Mackenzie Financial Corp now owns 43,011 shares of the company's stock worth $2,509,000 after buying an additional 8,973 shares in the last quarter. LPL Financial LLC increased its stake in Dayforce by 83.5% during the 1st quarter. LPL Financial LLC now owns 60,716 shares of the company's stock worth $3,542,000 after buying an additional 27,637 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dayforce by 9.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,835 shares of the company's stock worth $2,965,000 after buying an additional 4,257 shares in the last quarter. Empirical Finance LLC increased its stake in Dayforce by 8.4% during the 1st quarter. Empirical Finance LLC now owns 4,189 shares of the company's stock worth $244,000 after buying an additional 323 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Dayforce by 1.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 31,090 shares of the company's stock worth $1,813,000 after buying an additional 502 shares in the last quarter.

Insider Activity at Dayforce

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

Dayforce Trading Down 3.1%

Dayforce stock traded down $1.64 during mid-day trading on Friday, hitting $51.17. The company's stock had a trading volume of 1,993,829 shares, compared to its average volume of 1,710,648. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69. The stock's fifty day moving average is $57.16 and its two-hundred day moving average is $58.86. The firm has a market capitalization of $8.18 billion, a PE ratio of 170.56, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DAY shares. Jefferies Financial Group restated a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. Needham & Company LLC restated a "buy" rating and issued a $95.00 price target on shares of Dayforce in a research report on Monday, June 30th. Citigroup upped their price target on Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. BMO Capital Markets restated an "outperform" rating on shares of Dayforce in a research report on Tuesday, June 10th. Finally, UBS Group upped their price target on Dayforce from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Dayforce currently has an average rating of "Moderate Buy" and an average target price of $70.93.

Dayforce Profile

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.