Price Rowe Associates Inc /M Sells 39,558 Shares of Dayforce (NYSE:DAY) Stock

Dayforce, Inc. (NYSE:DAY) major shareholder Price Rowe Associates Inc /M sold 39,558 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $68.45, for a total transaction of $2,707,745.10. Following the sale, the insider owned 24,753,418 shares of the company’s stock, valued at $1,694,371,462.10. The trade was a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Dayforce Trading Down 0.1%

Shares of NYSE:DAY opened at $68.64 on Wednesday. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of -73.02, a PEG ratio of 2.53 and a beta of 1.20. Dayforce, Inc. has a 1-year low of $48.01 and a 1-year high of $82.69. 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 company has a 50 day moving average price of $68.84 and a 200 day moving average price of $61.76.

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

Institutional Investors Weigh In On Dayforce

A number of institutional investors have recently modified their holdings of DAY. Principal Financial Group Inc. raised its position in Dayforce by 53.0% during the first quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock valued at $15,927,000 after acquiring an additional 94,635 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Dayforce during the first quarter valued at approximately $1,282,000. Amalgamated Bank raised its position in Dayforce by 2.2% during the first quarter. Amalgamated Bank now owns 30,966 shares of the company’s stock valued at $1,806,000 after acquiring an additional 661 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Dayforce by 3.9% during the first quarter. PNC Financial Services Group Inc. now owns 11,725 shares of the company’s stock valued at $684,000 after acquiring an additional 443 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its position in shares of Dayforce by 26.0% in the first quarter. UniSuper Management Pty Ltd now owns 32,741 shares of the company’s stock valued at $1,910,000 after purchasing an additional 6,763 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on DAY. Wells Fargo & Company raised shares of Dayforce from a “strong sell” rating to an “equal weight” rating and upped their price objective for the company from $50.00 to $70.00 in a research note on Friday, August 22nd. William Blair lowered shares of Dayforce from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 20th. Stifel Nicolaus reaffirmed a “hold” rating and set a $70.00 price objective (down from $72.00) on shares of Dayforce in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Dayforce in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.