Insider Selling: Dayforce (NYSE:DAY) Major Shareholder Sells $81,583.50 in Stock

Dayforce, Inc. (NYSE:DAY) major shareholder Price Rowe Associates Inc /M sold 1,191 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $68.50, for a total value of $81,583.50. Following the completion of the transaction, the insider directly owned 24,792,847 shares in the company, valued at approximately $1,698,310,019.50. This represents a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Dayforce Stock Down 0.0%

NYSE DAY opened at $68.48 on Monday. 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, Inc. has a 12 month low of $48.01 and a 12 month high of $82.69. The stock’s 50 day moving average is $68.78 and its 200 day moving average is $61.05. The stock has a market cap of $10.94 billion, a PE ratio of 228.28, a P/E/G ratio of 2.52 and a beta of 1.17.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Dayforce had a return on equity of 7.37% and a net margin of 2.65%.The business had revenue of $464.70 million for the quarter, compared to the consensus estimate of $457.83 million. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Dayforce

Hedge funds have recently bought and sold shares of the business. EdgePoint Investment Group Inc. grew its position in shares of Dayforce by 55.0% during the 1st quarter. EdgePoint Investment Group Inc. now owns 13,860,521 shares of the company’s stock worth $808,484,000 after buying an additional 4,918,825 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Dayforce by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,620,415 shares of the company’s stock worth $969,470,000 after buying an additional 1,387,943 shares in the last quarter. Invesco Ltd. grew its position in shares of Dayforce by 36.0% during the 1st quarter. Invesco Ltd. now owns 3,583,632 shares of the company’s stock worth $209,033,000 after buying an additional 948,436 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Dayforce by 1,055.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 567,796 shares of the company’s stock worth $39,115,000 after buying an additional 518,636 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Dayforce during the 1st quarter worth $28,416,000.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Needham & Company LLC downgraded Dayforce from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Friday, August 22nd. William Blair downgraded Dayforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 20th. Jefferies Financial Group boosted their target price on Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $70.00 target price (down previously from $72.00) on shares of Dayforce in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.36.

About Dayforce

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.