Dayforce, Inc. (NYSE:DAY) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in shares of Dayforce, Inc. (NYSE:DAY) by 16.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,039 shares of the company’s stock after selling 1,427 shares during the period. Maryland State Retirement & Pension System’s holdings in Dayforce were worth $411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DAY. Xponance Inc. grew its stake in shares of Dayforce by 0.8% in the first 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. Stifel Financial Corp grew its stake in shares of Dayforce by 4.1% in the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company’s stock valued at $378,000 after buying an additional 205 shares in the last quarter. United Capital Financial Advisors LLC grew its stake in shares of Dayforce by 3.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 6,740 shares of the company’s stock valued at $490,000 after buying an additional 228 shares in the last quarter. CWM LLC grew its stake in shares of Dayforce by 7.6% in the first quarter. CWM LLC now owns 3,675 shares of the company’s stock valued at $214,000 after buying an additional 258 shares in the last quarter. Finally, Utah Retirement Systems grew its stake in shares of Dayforce by 1.2% in the fourth quarter. Utah Retirement Systems now owns 24,923 shares of the company’s stock valued at $1,810,000 after buying an additional 300 shares in the last quarter.

Wall Street Analyst Weigh In

DAY has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Dayforce in a research note on Friday, May 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research note on Monday, June 30th. UBS Group increased their target price on Dayforce from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. KeyCorp lowered their target price on Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler lowered their target price on Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and an average target price of $70.93.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction of $110,020.00. Following the transaction, the chief operating officer owned 190,811 shares of the company’s stock, valued at $10,496,513.11. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William Everett Mcdonald sold 2,059 shares of the 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 $113,265.59. Following the transaction, the executive vice president directly owned 103,684 shares in the company, valued at approximately $5,703,656.84. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,382 shares of company stock valued at $539,860 in the last quarter. Insiders own 4.50% of the company’s stock.

Dayforce Trading Down 0.9%

Shares of DAY opened at $52.92 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day moving average price of $56.45 and a 200 day moving average price of $58.27. Dayforce, Inc. has a one year low of $48.01 and a one year high of $82.69. The company has a market capitalization of $8.45 billion, a P/E ratio of 176.41, a P/E/G ratio of 2.00 and a beta of 1.11.

Dayforce (NYSE:DAY) last released 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. Dayforce had a return on equity of 7.37% and a net margin of 2.65%. The company had revenue of $464.70 million for the quarter, compared to the consensus estimate of $457.83 million. During the same quarter last year, the business posted $0.48 EPS. Dayforce’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Dayforce 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.