Dayforce, Inc. $DAY Shares Acquired by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its stake in Dayforce by 26.0%, owning 32,741 shares valued at approximately $1.91 million after purchasing an additional 6,763 shares in the first quarter.
• Dayforce reported $0.61 earnings per share for the last quarter, exceeding analysts' expectations of $0.52 and marking a 9.8% year-over-year revenue increase to $464.70 million.
• Research analysts have mixed ratings on Dayforce, with a consensus rating of "Hold" and an average price target of $71.43.

UniSuper Management Pty Ltd increased its position in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 26.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,741 shares of the company's stock after buying an additional 6,763 shares during the period. UniSuper Management Pty Ltd's holdings in Dayforce were worth $1,910,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in Dayforce during the first quarter valued at $30,000. National Pension Service lifted its holdings in Dayforce by 74.5% during 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 in the last quarter. Mather Group LLC. lifted its holdings in Dayforce by 196.9% during the first quarter. Mather Group LLC. now owns 962 shares of the company's stock valued at $56,000 after purchasing an additional 638 shares in the last quarter. Covestor Ltd lifted its holdings in Dayforce by 15.6% during the first quarter. Covestor Ltd now owns 1,430 shares of the company's stock valued at $83,000 after purchasing an additional 193 shares in the last quarter. Finally, Groupe la Francaise purchased a new position in Dayforce during the first quarter valued at $143,000.

Dayforce Trading Down 0.0%

DAY stock traded down $0.01 during trading on Friday, reaching $69.02. 1,302,397 shares of the stock were exchanged, compared to its average volume of 3,367,075. 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 business has a 50 day moving average price of $61.16 and a 200-day moving average price of $58.49. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 230.06, a P/E/G ratio of 2.54 and a beta of 1.14.

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

Insiders Place Their Bets

In other Dayforce news, EVP William Everett Mcdonald sold 2,059 shares of Dayforce stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total transaction of $113,265.59. Following the transaction, the executive vice president directly owned 103,684 shares of the company's stock, valued at $5,703,656.84. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction dated 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 owned 190,811 shares of the company's stock, valued at approximately $10,496,513.11. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,382 shares of company stock valued at $539,860 over the last ninety days. Company insiders own 4.50% of the company's stock.

Analyst Ratings Changes

DAY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $60.00 to $70.00 and gave the stock a "hold" rating in a research note on Friday, August 22nd. Barclays raised their price target 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. TD Cowen downgraded shares of Dayforce from a "buy" rating to a "hold" rating in a research note on Thursday, August 21st. Piper Sandler raised shares of Dayforce to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company raised shares of Dayforce from a "strong sell" rating to an "equal weight" rating and raised their price target for the stock from $50.00 to $70.00 in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Dayforce 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.