National Bank of Canada FI Buys 28,305 Shares of Dayforce, Inc. $DAY

Key Points

• National Bank of Canada FI increased its holdings in Dayforce, Inc. by 71.9%, owning 67,670 shares valued at approximately $3.94 million as of the latest reporting period.
• Dayforce's stock has declined by 0.9% recently, trading at $52.92, with a twelve-month high of $82.69 and a low of $48.01.
• Analysts have set a consensus price target of $70.93 for Dayforce, with ratings ranging from sell to buy, indicating a mixed outlook on the stock's performance.

National Bank of Canada FI boosted its stake in Dayforce, Inc. (NYSE:DAY - Free Report) by 71.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,670 shares of the company's stock after buying an additional 28,305 shares during the period. National Bank of Canada FI's holdings in Dayforce were worth $3,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DAY. Principal Financial Group Inc. increased its stake in Dayforce by 53.0% during the first quarter. Principal Financial Group Inc. now owns 273,055 shares of the company's stock worth $15,927,000 after purchasing an additional 94,635 shares during the period. Teacher Retirement System of Texas purchased a new stake in Dayforce during the first quarter worth about $1,282,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Dayforce by 13.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company's stock worth $1,259,000 after purchasing an additional 2,557 shares during the period. Amalgamated Bank increased its stake in Dayforce by 2.2% during the first quarter. Amalgamated Bank now owns 30,966 shares of the company's stock worth $1,806,000 after purchasing an additional 661 shares during the period. Finally, Fifth Third Bancorp increased its stake in Dayforce by 7.1% during the first quarter. Fifth Third Bancorp now owns 9,802 shares of the company's stock worth $572,000 after purchasing an additional 648 shares during the period.

Dayforce Price Performance

Shares of DAY stock traded down $0.6350 during trading on Tuesday, hitting $65.9850. The company had a trading volume of 1,130,631 shares, compared to its average volume of 1,962,286. 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's 50-day moving average is $56.59 and its two-hundred day moving average is $58.06. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 219.63, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. Dayforce, Inc. has a 52 week low of $48.01 and a 52 week high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. The company had revenue of $464.70 million for the quarter, compared to analysts' expectations of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. Dayforce's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. As a group, analysts predict that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DAY shares. Citigroup boosted their price objective on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. UBS Group boosted their price objective on Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Dayforce in a report on Friday, May 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Dayforce in a report on Monday, June 30th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Dayforce in a report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $70.93.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief operating officer owned 190,811 shares in the company, valued at $10,496,513.11. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Everett Mcdonald sold 2,059 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total value of $113,265.59. Following the transaction, the executive vice president owned 103,684 shares of the company's stock, valued at approximately $5,703,656.84. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,382 shares of company stock valued at $539,860 over the last quarter. 4.50% of the stock is owned by corporate insiders.

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.