Swiss National Bank Reduces Holdings in Dayforce, Inc. $DAY

Swiss National Bank lowered its position in shares of Dayforce, Inc. (NYSE:DAY) by 28.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 301,900 shares of the company’s stock after selling 120,700 shares during the period. Swiss National Bank owned about 0.19% of Dayforce worth $16,722,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Dayforce by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 17,648,163 shares of the company’s stock worth $977,532,000 after buying an additional 296,198 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Dayforce by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,620,415 shares of the company’s stock worth $969,470,000 after acquiring an additional 1,387,943 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Dayforce by 55.0% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,860,521 shares of the company’s stock valued at $808,484,000 after acquiring an additional 4,918,825 shares during the period. Geode Capital Management LLC increased its holdings in shares of Dayforce by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,014,285 shares of the company’s stock valued at $221,912,000 after acquiring an additional 13,139 shares during the period. Finally, Invesco Ltd. raised its position in Dayforce by 36.0% in the 1st quarter. Invesco Ltd. now owns 3,583,632 shares of the company’s stock valued at $209,033,000 after purchasing an additional 948,436 shares during the last quarter.

Insider Activity at Dayforce

In other news, EVP William Everett Mcdonald sold 1,912 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total transaction of $130,494.00. Following the sale, the executive vice president owned 101,772 shares of the company’s stock, valued at $6,945,939. The trade was a 1.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samer Alkharrat sold 3,233 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $68.55, for a total value of $221,622.15. Following the completion of the sale, the executive vice president owned 117,934 shares in the company, valued at approximately $8,084,375.70. This represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 76,179 shares of company stock valued at $5,219,460 in the last 90 days. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on DAY shares. Needham & Company LLC restated a “hold” rating on shares of Dayforce in a research note on Thursday, October 30th. Jefferies Financial Group boosted their price target on Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $70.00 price objective (down from $72.00) on shares of Dayforce in a research report on Friday, September 19th. Piper Sandler raised Dayforce to a “strong-buy” rating in a report on Tuesday, August 19th. Finally, KeyCorp cut Dayforce from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Dayforce currently has an average rating of “Hold” and an average price target of $70.36.

Dayforce Price Performance

Shares of NYSE DAY opened at $69.07 on Thursday. 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 one year low of $48.01 and a one year high of $81.93. The firm has a market capitalization of $11.05 billion, a P/E ratio of -73.48, a PEG ratio of 2.67 and a beta of 1.20. The company’s fifty day moving average is $68.69 and its two-hundred day moving average is $63.06.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The company had revenue of $481.60 million during the quarter, compared to analysts’ expectations of $481.22 million. Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. Analysts forecast that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

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.