Insider Selling: Dayforce (NYSE:DAY) Major Shareholder Sells 3,077 Shares of Stock

Key Points

• Price Rowe Associates Inc /M, a major shareholder of Dayforce, sold 3,077 shares at an average price of $68.35, totaling approximately $210,312.95, which slightly decreased their ownership stake.
• Dayforce reported a Q2 EPS of $0.61, exceeding analysts' estimates of $0.52, with a revenue increase of 9.8% year-over-year, totaling $464.70 million.
• Analyst ratings for Dayforce include a mix of "hold," "buy," and "neutral" ratings, with an average price target of $70.36.

Dayforce, Inc. (NYSE:DAY - Get Free Report) major shareholder Price Rowe Associates Inc /M sold 3,077 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $68.35, for a total transaction of $210,312.95. Following the completion of the transaction, the insider owned 24,794,038 shares in the company, valued at $1,694,672,497.30. This trade represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Dayforce Stock Performance

Shares of NYSE:DAY traded down $0.02 during trading on Friday, hitting $68.48. The company's stock had a trading volume of 1,175,893 shares, compared to its average volume of 2,124,752. The company has a 50-day moving average of $68.78 and a 200-day moving average of $60.93. Dayforce, Inc. has a 12 month low of $48.01 and a 12 month high of $82.69. 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 has a market cap of $10.94 billion, a price-to-earnings ratio of 228.28, a P/E/G ratio of 2.53 and a beta of 1.17.

Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $464.70 million during the quarter, compared to the consensus estimate of $457.83 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Institutional Investors Weigh In On Dayforce

A number of institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. grew its holdings in Dayforce by 0.8% during the 1st quarter. Xponance Inc. now owns 22,673 shares of the company's stock valued at $1,323,000 after buying an additional 179 shares in the last quarter. Covestor Ltd grew its holdings in shares of Dayforce by 15.6% in 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. DekaBank Deutsche Girozentrale grew its holdings in shares of Dayforce by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 19,984 shares of the company's stock valued at $1,103,000 after purchasing an additional 196 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Dayforce by 3.5% in the first quarter. HighTower Advisors LLC now owns 5,931 shares of the company's stock valued at $346,000 after purchasing an additional 203 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of 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 in the last quarter.

Analyst Ratings Changes

DAY has been the topic of several recent research reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dayforce in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Dayforce from a "strong sell" rating to an "equal weight" rating and raised their target price for the stock from $50.00 to $70.00 in a research note on Friday, August 22nd. Citigroup downgraded shares of Dayforce from a "buy" rating to a "neutral" rating and set a $70.00 price target on the stock. in a report on Wednesday, September 17th. William Blair downgraded shares of Dayforce from an "outperform" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, Dayforce has an average rating of "Hold" and an average price target of $70.36.

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.

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