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Vanguard Group Inc. Has $1.01 Billion Position in Dayforce, Inc. (NYSE:DAY)

Dayforce logo with Computer and Technology background

Key Points

  • Vanguard Group Inc. has increased its stake in Dayforce, Inc. by 0.2%, owning a total of 17,351,965 shares valued at approximately $1.01 billion.
  • Other notable institutional investors, including Mather Group LLC and Federated Hermes Inc., have also significantly increased their positions in Dayforce during the first quarter.
  • Dayforce recently reported earnings of $0.61 per share, surpassing analysts' expectations and showing a 9.8% year-over-year revenue increase.
  • Looking to export and analyze Dayforce data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Vanguard Group Inc. lifted its position in Dayforce, Inc. (NYSE:DAY - Free Report) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,351,965 shares of the company's stock after purchasing an additional 32,690 shares during the quarter. Vanguard Group Inc. owned 10.96% of Dayforce worth $1,012,140,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DAY. Capital International Investors raised its stake in shares of Dayforce by 3.9% in the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company's stock valued at $1,282,800,000 after purchasing an additional 667,065 shares in the last quarter. Northern Trust Corp raised its stake in shares of Dayforce by 21.5% in the fourth quarter. Northern Trust Corp now owns 1,544,475 shares of the company's stock valued at $112,191,000 after purchasing an additional 273,031 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Dayforce by 23.1% in 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 in the last quarter. Woodline Partners LP raised its stake in shares of Dayforce by 53.1% in the fourth quarter. Woodline Partners LP now owns 634,345 shares of the company's stock valued at $46,079,000 after purchasing an additional 220,112 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in shares of Dayforce in the fourth quarter valued at $13,272,000.

Dayforce Trading Down 0.9%

Dayforce stock traded down $0.49 during mid-day trading on Friday, hitting $52.92. The stock had a trading volume of 2,161,225 shares, compared to its average volume of 1,824,400. The stock has a 50-day simple moving average of $56.45 and a two-hundred day simple moving average of $58.27. The stock has a market capitalization of $8.45 billion, a PE ratio of 176.41, a P/E/G ratio of 2.00 and a beta of 1.11. Dayforce, Inc. has a 12 month low of $48.01 and a 12 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.

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. The business had revenue of $464.70 million for the quarter, compared to analysts' expectations of $457.83 million. Dayforce had a return on equity of 7.37% and a net margin of 2.65%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. As a group, sell-side analysts forecast that Dayforce, Inc. will post 1.48 EPS for the current year.

Insiders Place Their Bets

In other Dayforce news, EVP William Everett Mcdonald sold 2,059 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $59.69, for a total value of $278,095.71. Following 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. Over the last quarter, insiders have sold 9,382 shares of company stock worth $539,860. Insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

DAY has been the topic of a number of analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of Dayforce in a research report on Tuesday, June 10th. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 price target on shares of Dayforce in a research report on Monday, June 30th. Wells Fargo & Company cut Dayforce from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $60.00 to $50.00 in a research report on Friday, June 13th. Piper Sandler lowered their price target on Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group upped their price target on Dayforce from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $70.93.

Check Out Our Latest Stock Analysis on Dayforce

Dayforce Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Dayforce (NYSE:DAY)

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