Dayforce, Inc. $DAY Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its stake in Dayforce, Inc. by 56.1% in the first quarter, now holding 7,614 shares worth $444,000 after selling 9,718 shares.
• Several hedge funds have adjusted their positions in Dayforce, with Mather Group LLC increasing its stake by 196.9% during the same period.
• Analysts have mixed ratings on Dayforce, with a consensus rating of "Moderate Buy" and an average price target of $70.93, signaling potential growth despite recent insider selling.

Cetera Investment Advisers lessened its position in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 56.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,614 shares of the company's stock after selling 9,718 shares during the period. Cetera Investment Advisers' holdings in Dayforce were worth $444,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Machina Capital S.A.S. bought a new position in Dayforce during the 1st quarter worth approximately $400,000. CWM LLC lifted its holdings in Dayforce by 7.6% during the 1st quarter. CWM LLC now owns 3,675 shares of the company's stock worth $214,000 after buying an additional 258 shares during the last quarter. Xponance Inc. lifted its holdings in Dayforce by 0.8% during the 1st quarter. Xponance Inc. now owns 22,673 shares of the company's stock worth $1,323,000 after buying an additional 179 shares during the last quarter. CFC Planning Co LLC lifted its holdings in Dayforce by 18.6% during the 1st quarter. CFC Planning Co LLC now owns 3,989 shares of the company's stock worth $233,000 after buying an additional 626 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Dayforce by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 43,110 shares of the company's stock worth $2,515,000 after buying an additional 300 shares during the last quarter.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 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 $110,020.00. Following the sale, the chief operating officer directly owned 190,811 shares in the company, valued at $10,496,513.11. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 owned 127,632 shares in the company, valued at approximately $7,618,354.08. This represents 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 worth $539,860 in the last three months. 4.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on DAY shares. William Blair downgraded Dayforce from an "outperform" rating to a "hold" rating in a report on Wednesday. KeyCorp reiterated a "sector weight" rating on shares of Dayforce in a research report on Friday. Piper Sandler upgraded Dayforce to a "strong-buy" rating in a research report on Tuesday. TD Cowen cut Dayforce from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Wells Fargo & Company upgraded Dayforce from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $50.00 to $70.00 in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $72.86.

Dayforce Stock Performance

DAY traded up $0.1970 during trading hours on Friday, hitting $69.1970. The company's stock had a trading volume of 1,786,021 shares, compared to its average volume of 2,066,054. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $11.05 billion, a PE ratio of 230.62, a PEG ratio of 2.53 and a beta of 1.11. The company has a 50-day simple moving average of $57.03 and a 200 day simple moving average of $58.16.

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. Dayforce had a return on equity of 7.37% and a net margin of 2.65%.The firm had revenue of $464.70 million for the quarter, compared to analysts' expectations of $457.83 million. During the same period last year, the firm earned $0.48 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Dayforce, Inc. will post 1.48 EPS for the current 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.