MBB Public Markets I LLC Takes $321,000 Position in Dayforce, Inc. $DAY

Key Points

• MBB Public Markets I LLC has acquired 5,495 shares of Dayforce, Inc., valued at approximately $321,000, indicating institutional interest in the company.
• Dayforce reported earnings per share of $0.61, surpassing expectations, and shows a 9.8% increase in quarterly revenue compared to the previous year.
• Analysts have mixed ratings for Dayforce, with most firms adjusting their price targets to an average of $71.43 and a consensus rating of “Hold.”

MBB Public Markets I LLC purchased a new stake in Dayforce, Inc. (NYSE:DAY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,495 shares of the company's stock, valued at approximately $321,000.

A number of other institutional investors have also recently made changes to their positions in the stock. SVB Wealth LLC acquired a new position in shares of Dayforce in the 1st quarter valued at about $30,000. National Pension Service raised its stake in shares of Dayforce by 74.5% in the first quarter. National Pension Service now owns 541 shares of the company's stock worth $32,000 after purchasing an additional 231 shares during the last quarter. Mather Group LLC. raised its stake in shares of Dayforce by 196.9% in the first quarter. Mather Group LLC. now owns 962 shares of the company's stock worth $56,000 after purchasing an additional 638 shares during the last quarter. Covestor Ltd grew its position in Dayforce by 15.6% in the 1st quarter. Covestor Ltd now owns 1,430 shares of the company's stock worth $83,000 after purchasing an additional 193 shares in the last quarter. Finally, Groupe la Francaise purchased a new stake in shares of Dayforce during the first quarter valued at approximately $143,000.

Analyst Upgrades and Downgrades

DAY has been the topic of a number of research analyst reports. William Blair cut shares of Dayforce from an "outperform" rating to a "hold" rating in a research note on Wednesday, August 20th. TD Cowen downgraded shares of Dayforce from a "buy" rating to a "hold" rating in a report on Thursday, August 21st. Jefferies Financial Group raised their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a report on Thursday, August 21st. Wells Fargo & Company raised shares of Dayforce from a "strong sell" rating to an "equal weight" rating and raised their price target for the company from $50.00 to $70.00 in a report on Friday, August 22nd. Finally, UBS Group raised their price objective 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 analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $71.43.

Dayforce Trading Down 0.0%

Shares of DAY stock traded down $0.01 during mid-day trading on Friday, reaching $69.02. The stock had a trading volume of 1,302,397 shares, compared to its average volume of 3,367,075. The stock's 50-day moving average price is $61.16 and its two-hundred day moving average price is $58.52. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The firm has a market capitalization of $11.02 billion, a PE ratio of 230.06, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.

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, beating 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 firm had revenue of $464.70 million for the quarter, compared to analysts' expectations of $457.83 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts expect that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the business'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 owned 190,811 shares in the company, valued at approximately $10,496,513.11. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of the business's stock in a transaction dated 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 transaction, 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. Over the last quarter, insiders have sold 9,382 shares of company stock worth $539,860. 4.50% of the stock is currently owned by company insiders.

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.