Quantitative Investment Management LLC Buys Shares of 17,804 Dayforce, Inc. $DAY

Key Points

• Quantitative Investment Management LLC acquired 17,804 shares of Dayforce, Inc., valued at approximately $1,038,000, as disclosed in a recent SEC filing.
• Dayforce reported earnings of $0.61 per share, surpassing analyst expectations of $0.52, with revenue of $464.70 million for the quarter, marking a 9.8% year-over-year increase.
• Analysts have a mixed outlook for Dayforce, with a consensus rating of "Hold" and an average price target of $72.14, while several firms adjusted their target prices to $70.00.

Quantitative Investment Management LLC bought a new stake in Dayforce, Inc. (NYSE:DAY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,804 shares of the company's stock, valued at approximately $1,038,000.

A number of other hedge funds have also recently added to or reduced their stakes in DAY. SVB Wealth LLC acquired a new stake in Dayforce in the first quarter valued at approximately $30,000. National Pension Service lifted its holdings in shares of Dayforce by 74.5% during 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 period. Mather Group LLC. lifted its holdings in shares of Dayforce by 196.9% during 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 period. Covestor Ltd lifted its holdings in shares of Dayforce by 15.6% during the first 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. Finally, Groupe la Francaise acquired a new position in shares of Dayforce during the first quarter worth $143,000.

Dayforce Trading Up 0.3%

Shares of DAY stock opened at $69.1750 on Monday. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50-day simple moving average of $57.28 and a two-hundred day simple moving average of $58.04. The company has a market capitalization of $11.05 billion, a price-to-earnings ratio of 230.59, a PEG ratio of 2.60 and a beta of 1.11.

Dayforce (NYSE:DAY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.09. The firm 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%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. Research analysts anticipate that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 8th. William Blair downgraded shares of Dayforce from an "outperform" rating to a "hold" rating in a research report on Wednesday, August 20th. Wells Fargo & Company raised shares of Dayforce from a "strong sell" rating to an "equal weight" rating and boosted their target price for the stock from $50.00 to $70.00 in a research report on Friday. Barclays boosted their target price on shares of Dayforce from $61.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Dayforce from $60.00 to $70.00 and gave the stock a "hold" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Dayforce currently has a consensus rating of "Hold" and an average price target of $72.14.

Insider Activity at Dayforce

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 shares were sold at an average price of $55.01, for a total transaction of $110,020.00. Following the sale, the chief operating officer directly 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 SEC, which can be accessed 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 transaction of $113,265.59. Following the sale, the executive vice president owned 103,684 shares in the company, valued at $5,703,656.84. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,382 shares of company stock worth $539,860. 4.50% of the stock is owned by corporate 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.

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