QRG Capital Management Inc. Acquires Shares of 4,430 Dayforce, Inc. $DAY

QRG Capital Management Inc. acquired a new stake in shares of Dayforce, Inc. (NYSE:DAY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,430 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 1,387,943 shares during the period. EdgePoint Investment Group Inc. raised 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 purchasing an additional 4,918,825 shares during the period. Invesco Ltd. raised 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 purchasing an additional 948,436 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Dayforce by 4.4% during 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 during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Dayforce by 27.7% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 960,484 shares of the company’s stock worth $56,025,000 after purchasing an additional 208,078 shares during the period.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $68.95, for a total transaction of $137,900.00. Following the completion of the transaction, the chief operating officer owned 186,811 shares of the company’s stock, valued at $12,880,618.45. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Samer Alkharrat sold 3,232 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $68.78, for a total value of $222,296.96. Following the transaction, the executive vice president directly owned 121,167 shares of the company’s stock, valued at $8,333,866.26. This represents a 2.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,950 shares of company stock valued at $861,578. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DAY shares. Stifel Nicolaus reiterated a “hold” rating and set a $70.00 price target (down from $72.00) on shares of Dayforce in a research report on Friday, September 19th. William Blair cut Dayforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 20th. TD Cowen cut Dayforce from a “buy” rating to a “hold” rating in a research report on Thursday, August 21st. Citigroup cut Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Wednesday, September 17th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $70.00 price objective (up from $67.00) on shares of Dayforce in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.36.

Dayforce Stock Performance

Shares of DAY stock opened at $68.11 on Monday. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 227.04, a price-to-earnings-growth ratio of 2.51 and a beta of 1.17. The business has a 50 day simple moving average of $65.64 and a 200 day simple moving average of $60.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04.

Dayforce (NYSE:DAY) last issued 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 during the quarter, compared to analyst estimates of $457.83 million. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Dayforce, Inc. will post 1.48 EPS for the current year.

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.