Swedbank AB Raises Holdings in Dayforce, Inc. $DAY

Key Points

• Swedbank AB has increased its position in Dayforce, Inc. by 31.3% in the first quarter, owning 113,400 shares valued at approximately $6.62 million.
• Dayforce's recent earnings report showed an EPS of $0.61, exceeding estimates and demonstrating a 9.8% year-over-year revenue growth.
• Analysts have mixed ratings on Dayforce, with one strong buy, four buy ratings, and eleven hold ratings, leading to an average price target of $71.43.

Swedbank AB increased its stake in Dayforce, Inc. (NYSE:DAY - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,400 shares of the company's stock after acquiring an additional 27,000 shares during the period. Swedbank AB owned approximately 0.07% of Dayforce worth $6,615,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in shares of Dayforce during the first quarter worth $30,000. National Pension Service boosted its holdings in Dayforce by 74.5% in the first quarter. National Pension Service now owns 541 shares of the company's stock valued at $32,000 after purchasing an additional 231 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Dayforce by 196.9% during the 1st quarter. Mather Group LLC. now owns 962 shares of the company's stock worth $56,000 after acquiring an additional 638 shares in the last quarter. Covestor Ltd raised its position in shares of Dayforce by 15.6% during the 1st quarter. Covestor Ltd now owns 1,430 shares of the company's stock worth $83,000 after purchasing an additional 193 shares during the last quarter. Finally, Groupe la Francaise acquired a new stake in Dayforce in the 1st quarter valued at about $143,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on DAY. Needham & Company LLC cut shares of Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price target for the company. in a research report on Friday, August 22nd. Citigroup cut shares of Dayforce from a "buy" rating to a "neutral" rating and set a $70.00 price objective for the company. in a research report on Wednesday. UBS Group lifted their price objective on shares of Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. TD Cowen cut shares of Dayforce from a "buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Piper Sandler upgraded shares of Dayforce to a "strong-buy" rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Dayforce currently has an average rating of "Hold" and a consensus target price of $70.36.

Insider Transactions at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $68.95, for a total transaction of $137,900.00. Following the sale, the chief operating officer directly owned 186,811 shares in the company, valued at $12,880,618.45. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $278,095.71. Following the completion of the sale, the executive vice president owned 127,632 shares in the company, valued at approximately $7,618,354.08. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,382 shares of company stock worth $677,760 over the last quarter. 4.50% of the stock is currently owned by insiders.

Dayforce Trading Down 0.2%

Shares of Dayforce stock traded down $0.14 on Friday, reaching $68.81. 2,993,779 shares of the company's stock were exchanged, compared to its average volume of 1,982,005. The company has a market capitalization of $10.99 billion, a P/E ratio of 229.37, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14. Dayforce, Inc. has a 52 week low of $48.01 and a 52 week high of $82.69. The firm's 50-day moving average is $62.31 and its two-hundred day moving average is $58.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

Dayforce (NYSE:DAY - Get Free Report) last announced its 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 return on equity of 7.37% and a net margin of 2.65%.The firm had revenue of $464.70 million during the quarter, compared to analyst estimates of $457.83 million. During the same period last year, the firm posted $0.48 EPS. The business's revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

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.