Optimize Financial Inc Makes New Investment in Dayforce, Inc. $DAY

Key Points

• Optimize Financial Inc invested approximately $223,000 in Dayforce, Inc. by purchasing 3,821 shares during the first quarter.
• Dayforce reported earnings of $0.61 per share, exceeding analyst expectations of $0.52, along with revenues of $464.70 million for the quarter.
• Several analysts have recently adjusted their ratings on Dayforce, with Barclays setting a price objective of $70.00 and downgrades from other firms, indicating a shift in market sentiment.

Optimize Financial Inc acquired a new stake in shares of 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 (SEC). The fund acquired 3,821 shares of the company's stock, valued at approximately $223,000.

A number of other large investors have also recently made changes to their positions in DAY. EdgePoint Investment Group Inc. boosted its stake in shares of Dayforce by 55.0% during the first quarter. EdgePoint Investment Group Inc. now owns 13,860,521 shares of the company's stock valued at $808,484,000 after purchasing an additional 4,918,825 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Dayforce by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,620,415 shares of the company's stock valued at $969,470,000 after purchasing an additional 1,387,943 shares during the period. Invesco Ltd. boosted its stake in shares of Dayforce by 36.0% during the first quarter. Invesco Ltd. now owns 3,583,632 shares of the company's stock valued at $209,033,000 after purchasing an additional 948,436 shares during the period. Nuveen LLC purchased a new stake in shares of Dayforce during the first quarter valued at $28,416,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Dayforce by 23.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,207,045 shares of the company's stock valued at $87,680,000 after purchasing an additional 226,353 shares during the period.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 2,000 shares of the 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 $110,020.00. Following the transaction, the chief operating officer owned 190,811 shares in the company, valued at approximately $10,496,513.11. This represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samer Alkharrat sold 4,659 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was 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 approximately $7,618,354.08. This trade represents a 3.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,382 shares of company stock worth $539,860. 4.50% of the stock is owned by company insiders.

Dayforce Stock Down 0.0%

NYSE DAY traded down $0.01 on Friday, hitting $69.02. The stock had a trading volume of 1,302,397 shares, compared to its average volume of 3,367,075. The business's fifty day moving average price is $61.16 and its 200 day moving average price is $58.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 230.06, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14.

Dayforce (NYSE:DAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $464.70 million for the quarter, compared to the consensus estimate of $457.83 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DAY. William Blair lowered shares of Dayforce from an "outperform" rating to a "hold" rating in a research note on Wednesday, August 20th. Jefferies Financial Group boosted their target price on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a research note on Thursday, August 21st. Barclays upped their price objective on shares of Dayforce from $61.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, August 22nd. UBS Group upped their price objective on shares of Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, Needham & Company LLC lowered shares of Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $71.43.

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.