Dayforce, Inc. $DAY Position Boosted by Amundi

Amundi grew its stake in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 25.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 611,314 shares of the company's stock after purchasing an additional 123,684 shares during the quarter. Amundi owned 0.38% of Dayforce worth $34,393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Dayforce by 53.0% during the first quarter. Principal Financial Group Inc. now owns 273,055 shares of the company's stock worth $15,927,000 after purchasing an additional 94,635 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Dayforce in the first quarter worth about $1,282,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Dayforce by 13.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company's stock worth $1,259,000 after acquiring an additional 2,557 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Dayforce by 2.2% in the first quarter. Amalgamated Bank now owns 30,966 shares of the company's stock worth $1,806,000 after acquiring an additional 661 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Dayforce by 7.1% in the first quarter. Fifth Third Bancorp now owns 9,802 shares of the company's stock worth $572,000 after acquiring an additional 648 shares in the last quarter.

Insider Activity

In other news, COO Stephen H. Holdridge sold 2,000 shares of the company'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 $110,020.00. Following the completion of the transaction, the chief operating officer directly owned 190,811 shares of the company's stock, valued at approximately $10,496,513.11. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of the company'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 directly owned 127,632 shares of the company's stock, valued at $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 ninety days, insiders sold 9,382 shares of company stock valued at $539,860. 4.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on DAY. KeyCorp cut Dayforce from an "overweight" rating to a "sector weight" rating in a research note on Friday, August 22nd. TD Cowen cut Dayforce from a "buy" rating to a "hold" rating in a research note on Thursday, August 21st. Barclays boosted their price target on Dayforce from $61.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, August 22nd. Mizuho set a $70.00 price target on Dayforce in a research note on Friday, August 22nd. Finally, Wells Fargo & Company upgraded Dayforce from a "strong sell" rating to an "equal weight" rating and boosted their price target for the stock from $50.00 to $70.00 in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Dayforce presently has a consensus rating of "Hold" and an average price target of $71.43.

Dayforce Stock Performance

Shares of NYSE:DAY traded down $0.01 during trading on Friday, hitting $69.01. 334,549 shares of the company traded hands, compared to its average volume of 2,076,627. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of 230.04, a PEG ratio of 2.54 and a beta of 1.14. The business's fifty day moving average is $60.93 and its 200-day moving average is $58.47. Dayforce, Inc. has a one year low of $48.01 and a one year high of $82.69. 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 (NYSE:DAY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. The company had revenue of $464.70 million during 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%.The business's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, equities analysts predict that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal year.

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.