7,468 Shares in Dayforce, Inc. (NYSE:DAY) Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired a new stake in Dayforce, purchasing 7,468 shares valued at approximately $436,000 during the 1st quarter of the year.
• Several institutional investors, including Invesco Ltd and National Bank of Canada FI, have increased their stakes in Dayforce, signaling growing interest in the stock.
• Dayforce reported a 9.8% year-over-year revenue increase for the quarter, with earnings per share of $0.61, surpassing analyst expectations.

Aigen Investment Management LP acquired a new position in Dayforce, Inc. (NYSE:DAY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,468 shares of the company's stock, valued at approximately $436,000.

A number of other large investors have also added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Dayforce by 3.9% during the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company's stock valued at $1,282,800,000 after purchasing an additional 667,065 shares during the last quarter. Capital World Investors grew its position in shares of Dayforce by 1.0% during the 4th quarter. Capital World Investors now owns 13,654,333 shares of the company's stock worth $991,851,000 after buying an additional 128,578 shares in the last quarter. Invesco Ltd. grew its position in shares of Dayforce by 36.0% during the 1st 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. Northern Trust Corp boosted its position in Dayforce by 21.5% during the fourth quarter. Northern Trust Corp now owns 1,544,475 shares of the company's stock valued at $112,191,000 after purchasing an additional 273,031 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Dayforce by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,460,591 shares of the company's stock valued at $85,196,000 after purchasing an additional 60,963 shares in the last quarter.

Dayforce Stock Performance

Dayforce stock traded down $0.49 during midday trading on Friday, hitting $52.92. 2,161,225 shares of the company were exchanged, compared to its average volume of 1,824,400. The firm has a market capitalization of $8.45 billion, a PE ratio of 176.41, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69. The business has a fifty day simple moving average of $56.45 and a two-hundred day simple moving average of $58.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

Dayforce (NYSE:DAY - Get Free Report) last posted its 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. The firm had revenue of $464.70 million for 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% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. On average, sell-side analysts forecast that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DAY. Barclays raised their price objective on Dayforce from $60.00 to $61.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Dayforce in a research report on Tuesday, June 10th. Piper Sandler dropped their price objective on Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. Finally, KeyCorp decreased their price target on Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Dayforce has a consensus rating of "Moderate Buy" and a consensus price target of $70.93.

Insider Buying and Selling

In other Dayforce news, EVP William Everett Mcdonald sold 2,059 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total value of $113,265.59. Following the sale, the executive vice president directly owned 103,684 shares of the company's stock, valued at approximately $5,703,656.84. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samer Alkharrat sold 4,659 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 127,632 shares in the company, valued at approximately $7,618,354.08. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,382 shares of company stock valued at $539,860 over the last ninety days. Company insiders own 4.50% of the company's stock.

Dayforce Company 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.