Woodline Partners LP Purchases 8,513 Shares of Dayforce, Inc. $DAY

Key Points

• Woodline Partners LP increased its stake in Dayforce, Inc. by 1.3% to a total investment of approximately $37.5 million, now holding 642,858 shares of the company.
• Dayforce reported a strong earnings performance with $0.61 EPS, surpassing the consensus estimate of $0.52, and a year-over-year revenue growth of 9.8%.
• Several analysts have downgraded Dayforce's stock, with a consensus rating of "Hold" and an average price target of $71.43, following reports from firms like Needham & Company and Barclays.

Woodline Partners LP increased its holdings in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 642,858 shares of the company's stock after purchasing an additional 8,513 shares during the quarter. Woodline Partners LP owned approximately 0.40% of Dayforce worth $37,498,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Xponance Inc. grew its position in shares of 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 in the last quarter. Covestor Ltd grew its position in shares of 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 in the last quarter. HighTower Advisors LLC grew its position in shares of Dayforce by 3.5% during the first quarter. HighTower Advisors LLC now owns 5,931 shares of the company's stock worth $346,000 after purchasing an additional 203 shares in the last quarter. Stifel Financial Corp grew its position in shares of Dayforce by 4.1% during the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock worth $378,000 after purchasing an additional 205 shares in the last quarter. Finally, National Pension Service grew its holdings in Dayforce by 74.5% during the 1st quarter. National Pension Service now owns 541 shares of the company's stock valued at $32,000 after buying an additional 231 shares in the last quarter.

Insider Buying and Selling

In related news, EVP Samer Alkharrat sold 4,659 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $59.69, for a total transaction of $278,095.71. Following the completion of the sale, the executive vice president directly owned 127,632 shares of the company's stock, valued at approximately $7,618,354.08. This trade represents a 3.52% 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, 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. In the last three months, insiders sold 9,382 shares of company stock valued at $539,860. Insiders own 4.50% of the company's stock.

Dayforce Trading Down 0.0%

Shares of Dayforce stock traded down $0.01 on Friday, reaching $69.02. The company had a trading volume of 1,302,397 shares, compared to its average volume of 3,367,075. The firm has a market cap 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. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The firm's 50-day moving average price is $61.16 and its two-hundred day moving average price is $58.52. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last announced 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. The firm had revenue of $464.70 million during 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 company's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, research analysts predict that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays raised their price target on Dayforce from $61.00 to $70.00 and gave the company an "equal weight" rating in a report on Friday, August 22nd. KeyCorp cut Dayforce from an "overweight" rating to a "sector weight" rating in a report on Friday, August 22nd. Piper Sandler upgraded Dayforce to a "strong-buy" rating in a report on Tuesday, August 19th. Wells Fargo & Company upgraded Dayforce from a "strong sell" rating to an "equal weight" rating and raised their price target for the company from $50.00 to $70.00 in a report on Friday, August 22nd. Finally, Needham & Company LLC cut Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price target for the company. in a report on Friday, August 22nd. One research 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.