Quantitative Investment Management LLC Acquires 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 acquired a new position in shares of Dayforce, Inc. (NYSE:DAY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,804 shares of the company's stock, valued at approximately $1,038,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Xponance Inc. lifted 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 purchasing an additional 179 shares during the period. Covestor Ltd lifted its position in 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. HighTower Advisors LLC lifted its holdings in shares of Dayforce by 3.5% in the first quarter. HighTower Advisors LLC now owns 5,931 shares of the company's stock worth $346,000 after acquiring an additional 203 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Dayforce by 4.1% in 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. Finally, National Pension Service lifted its holdings 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 acquiring an additional 231 shares during the last quarter.

Dayforce Stock Up 0.2%

NYSE DAY traded up $0.11 during mid-day trading on Friday, hitting $69.81. The company's stock had a trading volume of 1,637,523 shares, compared to its average volume of 3,712,140. The company's 50 day simple moving average is $58.56 and its 200 day simple moving average is $58.24. Dayforce, Inc. has a twelve month low of $48.01 and a twelve month high of $82.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 232.72, a PEG ratio of 2.60 and a beta of 1.11.

Dayforce (NYSE:DAY - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $464.70 million during the quarter, compared to the consensus estimate of $457.83 million. During the same quarter last year, the firm posted $0.48 EPS. Dayforce's revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the firm's stock in a transaction 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 transaction, the chief operating officer directly owned 190,811 shares in the company, valued at approximately $10,496,513.11. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Everett Mcdonald sold 2,059 shares of the firm's stock in a transaction 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 in the company, valued at approximately $5,703,656.84. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,382 shares of company stock worth $539,860. Corporate insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DAY. Deutsche Bank Aktiengesellschaft increased their target price on shares of Dayforce from $60.00 to $70.00 and gave the stock a "hold" rating in a report on Friday, August 22nd. KeyCorp downgraded shares of Dayforce from an "overweight" rating to a "sector weight" rating in a research report on Friday, August 22nd. Jefferies Financial Group increased their target price on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a research report on Thursday, August 21st. BMO Capital Markets reaffirmed a "market perform" rating and set a $70.00 price objective (up previously from $67.00) on shares of Dayforce in a research report on Friday, August 22nd. Finally, Needham & Company LLC downgraded shares of Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $71.43.

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.