Dayforce (NYSE:DAY) Major Shareholder Price Rowe Associates Inc /M Sells 2,977 Shares of Stock

Dayforce, Inc. (NYSE:DAY) major shareholder Price Rowe Associates Inc /M sold 2,977 shares of Dayforce stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $68.50, for a total value of $203,924.50. Following the sale, the insider owned 24,789,870 shares of the company’s stock, valued at approximately $1,698,106,095. This trade represents a 0.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Dayforce Stock Performance

Shares of DAY opened at $68.41 on Wednesday. The company has a market cap of $10.92 billion, a PE ratio of 228.02, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $68.87 and a 200-day moving average price of $61.24. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69.

Dayforce (NYSE:DAY) last issued its quarterly 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. The firm had revenue of $464.70 million for the quarter, compared to analyst estimates of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, equities analysts forecast that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dayforce

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Dayforce by 1.7% during the second quarter. Vanguard Group Inc. now owns 17,648,163 shares of the company’s stock valued at $977,532,000 after buying an additional 296,198 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 valued at $969,470,000 after buying an additional 1,387,943 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Dayforce by 17.2% during the second quarter. EdgePoint Investment Group Inc. now owns 16,244,490 shares of the company’s stock valued at $899,782,000 after buying an additional 2,383,969 shares during the period. Dragoneer Investment Group LLC increased its stake in shares of Dayforce by 0.5% during the second quarter. Dragoneer Investment Group LLC now owns 4,749,842 shares of the company’s stock valued at $263,094,000 after buying an additional 23,592 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Dayforce by 0.3% during the second quarter. Geode Capital Management LLC now owns 4,014,285 shares of the company’s stock valued at $221,912,000 after buying an additional 13,139 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DAY shares. Piper Sandler raised shares of Dayforce to a “strong-buy” rating in a report on Tuesday, August 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Dayforce in a report on Wednesday, October 8th. Wells Fargo & Company raised Dayforce from a “strong sell” rating to an “equal weight” rating and raised their price objective for the company from $50.00 to $70.00 in a report on Friday, August 22nd. Citigroup cut Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research note on Wednesday, September 17th. Finally, KeyCorp cut Dayforce from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 22nd. One 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. Based on data from MarketBeat, Dayforce has an average rating of “Hold” and a consensus target price of $70.36.

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.