Allstate Corp Has $658,000 Position in Dayforce, Inc. $DAY

Key Points

• Allstate Corp significantly increased its stake in Dayforce, Inc. by 134.4%, acquiring an additional 6,464 shares and bringing its total holdings to 11,274 shares worth $658,000.
• Wall Street analysts have given mixed ratings for Dayforce, with a consensus rating of "Hold" and a price target averaging $72.14, following downgrades from multiple firms.
• Dayforce's quarterly earnings surpassed expectations, reporting $0.61 earnings per share on revenue of $464.7 million, reflecting a 9.8% year-over-year increase.

Allstate Corp lifted its stake in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 134.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,274 shares of the company's stock after purchasing an additional 6,464 shares during the quarter. Allstate Corp's holdings in Dayforce were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service grew its holdings in shares of Dayforce by 74.5% during the 1st quarter. National Pension Service now owns 541 shares of the company's stock valued at $32,000 after purchasing an additional 231 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Dayforce by 196.9% during the 1st quarter. Mather Group LLC. now owns 962 shares of the company's stock valued at $56,000 after purchasing an additional 638 shares during the last quarter. Covestor Ltd grew its holdings in shares of Dayforce by 15.6% during the 1st quarter. Covestor Ltd now owns 1,430 shares of the company's stock valued at $83,000 after purchasing an additional 193 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of Dayforce during the 4th quarter valued at approximately $169,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Dayforce during the 4th quarter valued at approximately $217,000.

Dayforce Trading Up 0.3%

Shares of NYSE DAY traded up $0.24 during midday trading on Thursday, reaching $69.79. The stock had a trading volume of 2,971,592 shares, compared to its average volume of 3,636,063. The firm has a market cap of $11.15 billion, a price-to-earnings ratio of 232.65, a price-to-earnings-growth ratio of 2.59 and a beta of 1.11. Dayforce, Inc. has a twelve month low of $48.01 and a twelve month high of $82.69. 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 company's 50 day moving average price is $58.29 and its 200 day moving average price is $58.26.

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, topping analysts' consensus estimates of $0.52 by $0.09. The firm had revenue of $464.70 million for the quarter, compared to the consensus estimate of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. As a group, sell-side analysts expect that Dayforce, Inc. will post 1.48 EPS for the current year.

Insider Transactions at Dayforce

In other news, EVP Samer Alkharrat sold 4,659 shares of the business'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 transaction, the executive vice president owned 127,632 shares in the company, valued at approximately $7,618,354.08. The trade was a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Everett Mcdonald sold 2,059 shares of the business'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 transaction of $113,265.59. Following the completion of the transaction, the executive vice president owned 103,684 shares in the company, valued at $5,703,656.84. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,382 shares of company stock worth $539,860. Company insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DAY shares. Jefferies Financial Group lifted their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a report on Thursday, August 21st. William Blair lowered shares of Dayforce from an "outperform" rating to a "hold" rating in a report on Wednesday, August 20th. BMO Capital Markets reaffirmed a "market perform" rating and set a $70.00 price target (up from $67.00) on shares of Dayforce in a report on Friday, August 22nd. Piper Sandler raised shares of Dayforce to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, UBS Group boosted their target price on shares of Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dayforce presently has an average rating of "Hold" and an average target price of $71.43.

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.