Dayforce, Inc. (NYSE:DAY) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its holdings in Dayforce, Inc. by 1.5% during the first quarter, now owning approximately 968,562 shares valued at $56.5 million.
• Several analysts have adjusted their price targets for Dayforce, with Needham & Company maintaining a "buy" rating at $95.00 while others have set lower targets, including Wells Fargo's cut to $50.00.
• Dayforce reported a quarterly earnings per share of $0.61, surpassing estimates and reflecting a year-over-year revenue growth of 9.8% to $464.70 million.

Deutsche Bank AG lowered its holdings in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 968,562 shares of the company's stock after selling 14,349 shares during the period. Deutsche Bank AG owned about 0.61% of Dayforce worth $56,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Xponance Inc. raised its position in Dayforce by 0.8% during the first quarter. Xponance Inc. now owns 22,673 shares of the company's stock worth $1,323,000 after acquiring an additional 179 shares during the last quarter. Stifel Financial Corp raised its position in Dayforce by 4.1% during the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock worth $378,000 after acquiring an additional 205 shares during the last quarter. United Capital Financial Advisors LLC raised its position in shares of Dayforce by 3.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 6,740 shares of the company's stock valued at $490,000 after buying an additional 228 shares during the last quarter. CWM LLC raised its position in shares of Dayforce by 7.6% in the first quarter. CWM LLC now owns 3,675 shares of the company's stock valued at $214,000 after buying an additional 258 shares during the last quarter. Finally, Utah Retirement Systems raised its position in shares of Dayforce by 1.2% in the fourth quarter. Utah Retirement Systems now owns 24,923 shares of the company's stock valued at $1,810,000 after buying an additional 300 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $95.00 price objective on shares of Dayforce in a research report on Monday, June 30th. Mizuho cut their price objective on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp cut their price objective on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. 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. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $70.93.

Dayforce Price Performance

Dayforce stock opened at $49.91 on Tuesday. 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, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69. The firm has a 50 day moving average price of $56.99 and a 200 day moving average price of $58.63. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 166.38, a PEG ratio of 1.98 and a beta of 1.11.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $457.83 million. During the same period in the previous year, the firm earned $0.48 earnings per share. Dayforce's revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts predict that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Insiders Place Their Bets

In other Dayforce news, EVP Samer Alkharrat sold 4,659 shares of the business'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 completion of the sale, the executive vice president directly owned 127,632 shares in the company, valued at $7,618,354.08. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total transaction of $110,020.00. Following the completion of the transaction, the chief operating officer owned 190,811 shares of the company's stock, valued at $10,496,513.11. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,382 shares of company stock worth $539,860 over the last ninety days. 4.50% of the stock is owned by company insiders.

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.

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