Invesco Ltd. Acquires 948,436 Shares of Dayforce, Inc. (NYSE:DAY)

Invesco Ltd. raised its stake in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 36.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,583,632 shares of the company's stock after purchasing an additional 948,436 shares during the quarter. Invesco Ltd. owned 2.26% of Dayforce worth $209,033,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd increased its holdings in shares of Dayforce by 15.6% during the 1st quarter. Covestor Ltd now owns 1,430 shares of the company's stock worth $83,000 after purchasing an additional 193 shares during the period. National Bank of Canada FI increased its holdings in shares of Dayforce by 71.9% during the 1st quarter. National Bank of Canada FI now owns 67,670 shares of the company's stock worth $3,943,000 after purchasing an additional 28,305 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Dayforce by 13.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 282,538 shares of the company's stock worth $16,480,000 after purchasing an additional 32,997 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Dayforce by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,460,591 shares of the company's stock worth $85,196,000 after purchasing an additional 60,963 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of Dayforce during the 1st quarter worth about $731,000.

Dayforce Price Performance

NYSE:DAY traded down $0.49 on Friday, reaching $52.92. The stock had a trading volume of 2,161,225 shares, compared to its average volume of 1,824,400. The company has a market capitalization of $8.45 billion, a P/E ratio of 176.41, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. Dayforce, Inc. has a 1-year low of $48.01 and a 1-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. The stock has a fifty day moving average price of $56.45 and a 200-day moving average price of $58.18.

Dayforce (NYSE:DAY - Get Free Report) last announced its 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. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The company had revenue of $464.70 million for the quarter, compared to analyst estimates of $457.83 million. During the same period in the prior year, the business earned $0.48 earnings per share. Dayforce's quarterly revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Dayforce, Inc. will post 1.48 EPS for the current year.

Analyst Upgrades and Downgrades

DAY has been the topic of several recent research reports. Wells Fargo & Company lowered shares of Dayforce from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $60.00 to $50.00 in a research report on Friday, June 13th. Piper Sandler decreased their target price on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. KeyCorp decreased their target price on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Barclays lifted their target price on shares of Dayforce from $60.00 to $61.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, UBS Group lifted 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.93.

Insider Transactions at Dayforce

In other news, 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 transaction of $278,095.71. Following the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief operating officer owned 190,811 shares in the company, valued at $10,496,513.11. The trade was a 1.04% 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 worth $539,860. Corporate insiders own 4.50% of the company's stock.

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.