Credit Agricole S A Lowers Stake in Dayforce, Inc. $DAY

Key Points

• Credit Agricole S A has reduced its stake in Dayforce, Inc. by 67.6%, selling 39,273 shares to hold 18,847 shares valued at approximately $1.1 million as of the latest SEC filing.
• Several institutional investors, including Raymond James and First Trust Advisors, have recently changed their positions in Dayforce, indicating varying market interests.
• Dayforce's recent earnings report showed an EPS of $0.61, surpassing expectations, and a revenue increase of 9.8% year-over-year, highlighting its strong financial performance.

Credit Agricole S A lessened its position in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 67.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,847 shares of the company's stock after selling 39,273 shares during the period. Credit Agricole S A's holdings in Dayforce were worth $1,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DAY. Raymond James Financial Inc. purchased a new stake in Dayforce during the fourth quarter valued at about $1,764,000. First Trust Advisors LP purchased a new stake in Dayforce during the fourth quarter valued at about $12,201,000. MetLife Investment Management LLC grew its position in Dayforce by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 42,314 shares of the company's stock valued at $3,074,000 after acquiring an additional 613 shares during the period. Tower Research Capital LLC TRC grew its position in Dayforce by 97.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,090 shares of the company's stock valued at $660,000 after acquiring an additional 4,486 shares during the period. Finally, Stifel Financial Corp grew its position in Dayforce by 4.1% during the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock valued at $378,000 after acquiring an additional 205 shares during the period.

Insider Buying and Selling at Dayforce

In other Dayforce news, EVP William Everett Mcdonald sold 2,059 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 $113,265.59. Following the sale, the executive vice president owned 103,684 shares in the company, valued at $5,703,656.84. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 sale, the executive vice president owned 127,632 shares in the company, valued at $7,618,354.08. The trade was a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,382 shares of company stock worth $539,860 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Needham & Company LLC cut Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a report on Friday. William Blair downgraded Dayforce from an "outperform" rating to a "hold" rating in a report on Wednesday, August 20th. BMO Capital Markets reissued a "market perform" rating and issued a $70.00 price target (up previously from $67.00) on shares of Dayforce in a report on Friday. Finally, Citigroup increased their price target on Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $72.14.

Dayforce Trading Up 0.3%

Shares of NYSE DAY opened at $69.1750 on Monday. The stock's 50 day moving average price is $57.28 and its two-hundred day moving average price is $58.04. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The stock has a market capitalization of $11.05 billion, a P/E ratio of 230.59, a PEG ratio of 2.60 and a beta of 1.11. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (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 quarter in the prior year, the firm posted $0.48 earnings per share. Dayforce's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding DAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dayforce, Inc. (NYSE:DAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.