Nissay Asset Management Corp Japan ADV Sells 846 Shares of Dayforce, Inc. $DAY

Nissay Asset Management Corp Japan ADV lessened its holdings in Dayforce, Inc. (NYSE:DAY) by 4.5% during the first quarter, Holdings Channel.com reports. The firm owned 18,101 shares of the company’s stock after selling 846 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Dayforce were worth $1,056,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DAY. EdgePoint Investment Group Inc. raised its position in Dayforce by 55.0% in 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. Price T Rowe Associates Inc. MD raised its position in Dayforce by 9.1% in 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. Invesco Ltd. raised its position in Dayforce by 36.0% in 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. Nuveen LLC purchased a new position in Dayforce in the 1st quarter worth $28,416,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DAY shares. Wells Fargo & Company upgraded shares of Dayforce from a “strong sell” rating to an “equal weight” rating and lifted their target price for the stock from $50.00 to $70.00 in a research report on Friday, August 22nd. KeyCorp cut shares of Dayforce from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 22nd. BMO Capital Markets restated a “market perform” rating and issued a $70.00 price objective (up previously from $67.00) on shares of Dayforce in a research report on Friday, August 22nd. TD Cowen cut shares of Dayforce from a “buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Piper Sandler upgraded shares of Dayforce to a “strong-buy” rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Dayforce has a consensus rating of “Hold” and an average price target of $71.43.

Dayforce Price Performance

Shares of NYSE DAY opened at $68.93 on Wednesday. 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 current ratio of 1.04 and a quick ratio of 1.04. The company’s 50-day moving average is $60.42 and its 200 day moving average is $58.37. The stock has a market capitalization of $11.01 billion, a P/E ratio of 229.77, a P/E/G ratio of 2.56 and a beta of 1.14.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.09. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The company had revenue of $464.70 million for the quarter, compared to analysts’ expectations of $457.83 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. Dayforce’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Insider Activity at Dayforce

In related news, EVP William Everett Mcdonald sold 2,059 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total transaction of $113,265.59. Following the transaction, the executive vice president owned 103,684 shares in the company, valued at $5,703,656.84. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samer Alkharrat sold 4,659 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $59.69, for a total transaction of $278,095.71. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 9,382 shares of company stock worth $539,860 over the last 90 days. 4.50% of the stock is owned by company insiders.

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.