Blair William & Co. IL Has $5.29 Million Stake in Dayforce, Inc. (NYSE:DAY)

Key Points

• Blair William & Co. IL has reduced its holdings in Dayforce, Inc. by 6.5%, owning 90,649 shares valued at $5.29 million after selling 6,291 shares in the first quarter.
• Insider trading has shown executives selling shares, with EVP Samer Alkharrat selling 4,659 shares for approximately $278,096, reducing their holding by 3.52%.
• Several analysts have adjusted their price targets for Dayforce, with Needham & Company issuing a target of $95.00 and maintaining a "buy" rating amidst mixed reviews from other firms.

Blair William & Co. IL lessened its holdings in Dayforce, Inc. (NYSE:DAY - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,649 shares of the company's stock after selling 6,291 shares during the period. Blair William & Co. IL owned 0.06% of Dayforce worth $5,288,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mather Group LLC. increased its stake in shares of Dayforce by 196.9% in the first quarter. Mather Group LLC. now owns 962 shares of the company's stock worth $56,000 after purchasing an additional 638 shares during the period. Federated Hermes Inc. bought a new position in Dayforce in the 4th quarter worth approximately $72,000. Mufg Securities Americas Inc. bought a new position in Dayforce in the 4th quarter worth approximately $169,000. CX Institutional acquired a new position in shares of Dayforce during the first quarter worth approximately $190,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Dayforce by 38.6% in the first quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company's stock valued at $214,000 after acquiring an additional 1,022 shares during the period.

Dayforce Price Performance

Shares of Dayforce stock traded down $1.64 during midday trading on Friday, hitting $51.17. 1,993,829 shares of the company were exchanged, compared to its average volume of 1,904,717. The firm has a 50 day simple moving average of $57.16 and a 200-day simple moving average of $58.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market cap of $8.18 billion, a P/E ratio of 170.56, a PEG ratio of 2.08 and a beta of 1.11. Dayforce, Inc. has a 52 week low of $48.01 and a 52 week high of $82.69.

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

Analyst Upgrades and Downgrades

DAY has been the subject of several research analyst reports. Mizuho cut their target price on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company lowered shares of Dayforce from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $60.00 to $50.00 in a research report on Friday, June 13th. Citigroup lifted their target price on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Piper Sandler cut their price target on Dayforce from $83.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Barclays lifted their price objective on Dayforce from $60.00 to $61.00 and gave the stock an "equal weight" rating in a report on Thursday. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.93.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 2,000 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 value of $110,020.00. Following the transaction, the chief operating officer directly owned 190,811 shares of the company's stock, valued at $10,496,513.11. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $59.69, for a total value of $278,095.71. Following the sale, the executive vice president owned 127,632 shares in the company, 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. Insiders sold 9,382 shares of company stock valued at $539,860 in the last ninety days. Insiders own 4.50% of the company's stock.

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.