Versor Investments LP Buys New Position in Dayforce, Inc. $DAY

Key Points

• Versor Investments LP has acquired a new position in Dayforce, purchasing 9,600 shares valued at approximately $560,000.
• Dayforce shares have experienced significant interest from other hedge funds, with National Pension Service increasing their stake by 74.5% during the first quarter.
• Despite a slight decrease in stock price, Dayforce reported earnings of $0.61 EPS, surpassing expectations and showing a 9.8% year-over-year revenue growth.

Versor Investments LP purchased a new stake in Dayforce, Inc. (NYSE:DAY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,600 shares of the company's stock, valued at approximately $560,000.

Several other large investors also recently added to or reduced their stakes in the business. Ethic Inc. raised its holdings in shares of Dayforce by 22.8% in the 1st quarter. Ethic Inc. now owns 10,101 shares of the company's stock valued at $589,000 after acquiring an additional 1,878 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of Dayforce by 2.2% during the 1st quarter. Aberdeen Group plc now owns 11,626 shares of the company's stock worth $674,000 after acquiring an additional 245 shares during the last quarter. National Pension Service boosted its holdings in shares of Dayforce by 74.5% in the 1st quarter. National Pension Service now owns 541 shares of the company's stock worth $32,000 after purchasing an additional 231 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Dayforce by 33.3% during the first quarter. Russell Investments Group Ltd. now owns 43,155 shares of the company's stock worth $2,517,000 after acquiring an additional 10,791 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. raised its position in Dayforce by 7.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 49,610 shares of the company's stock worth $2,894,000 after purchasing an additional 3,405 shares during the period.

Insider Buying and Selling at Dayforce

In other news, EVP Samer Alkharrat sold 4,659 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $59.69, for a total value of $278,095.71. Following the sale, the executive vice president owned 127,632 shares of the company's stock, valued at approximately $7,618,354.08. This represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total value of $110,020.00. Following the sale, the chief operating officer directly owned 190,811 shares of the company's stock, valued at $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 sold 9,382 shares of company stock valued at $539,860 in the last 90 days. Insiders own 4.50% of the company's stock.

Dayforce Stock Performance

Shares of DAY stock traded up $0.1750 on Friday, reaching $69.1750. The stock had a trading volume of 5,247,516 shares, compared to its average volume of 3,347,733. 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, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69. The stock has a market cap of $11.05 billion, a P/E ratio of 230.59, a price-to-earnings-growth ratio of 2.60 and a beta of 1.11. The company has a 50 day simple moving average of $57.28 and a 200 day simple moving average of $58.09.

Dayforce (NYSE:DAY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.09. The business had revenue of $464.70 million during 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 firm's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. Equities research analysts expect that Dayforce, Inc. will post 1.48 EPS for the current year.

Analyst Upgrades and Downgrades

DAY has been the topic of several recent analyst reports. Barclays raised their target price on shares of Dayforce from $61.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday. Needham & Company LLC lowered Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Dayforce from $60.00 to $70.00 and gave the stock a "hold" rating in a report on Friday. Finally, 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. One equities research 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 company's stock. According to MarketBeat.com, Dayforce currently has a consensus rating of "Hold" and a consensus price target of $72.14.

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.