Dayforce, Inc. $DAY Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. reduced its stake in Dayforce, Inc. (NYSE:DAY - Free Report) by 31.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,100 shares of the company's stock after selling 37,200 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.05% of Dayforce worth $4,672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DAY. Xponance Inc. increased its holdings in shares of Dayforce by 0.8% in 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. Covestor Ltd increased its holdings in shares of Dayforce by 15.6% in the 1st quarter. Covestor Ltd now owns 1,430 shares of the company's stock worth $83,000 after buying an additional 193 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Dayforce by 3.5% in the 1st quarter. HighTower Advisors LLC now owns 5,931 shares of the company's stock worth $346,000 after buying an additional 203 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Dayforce by 4.1% in the 4th quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock worth $378,000 after buying an additional 205 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of Dayforce by 74.5% in the 1st quarter. National Pension Service now owns 541 shares of the company's stock worth $32,000 after buying an additional 231 shares during the last quarter.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were 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 approximately $10,496,513.11. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William Everett Mcdonald sold 2,059 shares of the firm's stock in a transaction dated 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 directly owned 103,684 shares in the company, valued at approximately $5,703,656.84. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,382 shares of company stock valued at $539,860. Corporate insiders own 4.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DAY. Wells Fargo & Company raised shares of Dayforce from a "strong sell" rating to an "equal weight" rating and boosted their price objective for the company from $50.00 to $70.00 in a research report on Friday, August 22nd. TD Cowen downgraded shares of Dayforce from a "buy" rating to a "hold" rating in a research note on Thursday, August 21st. Barclays upped their price target on shares of Dayforce from $61.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Friday, August 22nd. UBS Group increased their target price on shares of Dayforce from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Dayforce has an average rating of "Hold" and an average target price of $71.43.

Dayforce Stock Performance

NYSE DAY traded down $0.01 during mid-day trading on Friday, reaching $69.01. 334,549 shares of the stock were exchanged, compared to its average volume of 2,076,627. The business's 50 day moving average is $60.93 and its 200-day moving average is $58.47. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69. The company has a market capitalization of $11.02 billion, a P/E ratio of 230.04, a P/E/G ratio of 2.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

Dayforce (NYSE:DAY - Get Free Report) last announced 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 firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. On average, equities research analysts forecast that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

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.