National Bank of Canada FI Acquires 28,305 Shares of Dayforce, Inc. (NYSE:DAY)

National Bank of Canada FI lifted its holdings in shares of Dayforce, Inc. (NYSE:DAY) by 71.9% in the 1st quarter, HoldingsChannel reports. The fund owned 67,670 shares of the company’s stock after purchasing an additional 28,305 shares during the period. National Bank of Canada FI’s holdings in Dayforce were worth $3,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors grew its position in Dayforce by 3.9% in the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock worth $1,282,800,000 after purchasing an additional 667,065 shares in the last quarter. Capital World Investors grew its position in Dayforce by 1.0% in the 4th quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock worth $991,851,000 after purchasing an additional 128,578 shares in the last quarter. Northern Trust Corp grew its position in Dayforce by 21.5% in the 4th quarter. Northern Trust Corp now owns 1,544,475 shares of the company’s stock worth $112,191,000 after purchasing an additional 273,031 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Dayforce by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,460,591 shares of the company’s stock worth $85,196,000 after purchasing an additional 60,963 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Dayforce by 23.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,207,045 shares of the company’s stock worth $87,680,000 after purchasing an additional 226,353 shares in the last quarter.

Dayforce Stock Down 0.1%

DAY opened at $53.35 on Friday. The company has a 50 day moving average of $56.60 and a 200 day moving average of $58.41. The company has a market cap of $8.52 billion, a PE ratio of 177.84, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11. Dayforce, Inc. has a 12 month low of $48.01 and a 12 month high of $82.69. 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 (NYSE:DAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. The company had revenue of $464.70 million during the quarter, compared to the consensus estimate of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. Dayforce’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. On average, sell-side analysts expect that Dayforce, Inc. will post 1.48 EPS for the current year.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total value of $110,020.00. Following the completion of the transaction, the chief operating officer directly owned 190,811 shares of the company’s stock, valued at approximately $10,496,513.11. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samer Alkharrat sold 4,659 shares of the 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 owned 127,632 shares in the company, valued at $7,618,354.08. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,382 shares of company stock valued at $539,860. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DAY. Citigroup upped their price objective on shares of Dayforce from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Piper Sandler reduced their price objective on shares of Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company downgraded shares of Dayforce from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $60.00 to $50.00 in a research report on Friday, June 13th. Jefferies Financial Group reissued a “hold” rating on shares of Dayforce in a research report on Friday, May 23rd. Finally, Barclays increased their target price on shares of Dayforce from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.93.

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.