Resona Asset Management Co. Ltd. Decreases Stock Position in Dayforce, Inc. $DAY

Resona Asset Management Co. Ltd. decreased its position in shares of Dayforce, Inc. (NYSE:DAY) by 96.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,734 shares of the company’s stock after selling 47,876 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Dayforce were worth $96,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. SVB Wealth LLC purchased a new position in Dayforce in the first quarter valued at about $30,000. Assetmark Inc. increased its stake in shares of Dayforce by 701.4% in the second quarter. Assetmark Inc. now owns 561 shares of the company’s stock worth $31,000 after buying an additional 491 shares during the last quarter. National Pension Service boosted its stake in Dayforce by 74.5% during the 1st quarter. National Pension Service now owns 541 shares of the company’s stock valued at $32,000 after acquiring an additional 231 shares during the last quarter. Covestor Ltd grew its holdings in Dayforce by 15.6% during the 1st quarter. Covestor Ltd now owns 1,430 shares of the company’s stock worth $83,000 after acquiring an additional 193 shares in the last quarter. Finally, Groupe la Francaise acquired a new stake in shares of Dayforce in the 1st quarter valued at about $143,000.

Dayforce Stock Up 0.2%

DAY opened at $68.96 on Thursday. The stock’s 50 day moving average price is $68.72 and its 200 day moving average price is $62.27. 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 stock has a market cap of $11.04 billion, a P/E ratio of -73.36, a P/E/G ratio of 2.66 and a beta of 1.20. Dayforce, Inc. has a 12 month low of $48.01 and a 12 month high of $82.69.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.19). The business had revenue of $481.60 million during 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 revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. As a group, research analysts predict that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on DAY shares. William Blair downgraded Dayforce from an “outperform” rating to a “hold” rating in a report on Wednesday, August 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Dayforce in a report on Thursday, October 30th. Barclays boosted their price objective on Dayforce from $61.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, August 22nd. Zacks Research lowered Dayforce from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 target price (down from $72.00) on shares of Dayforce in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Dayforce currently has a consensus rating of “Hold” and an average price target of $70.36.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $68.95, for a total transaction of $137,900.00. Following the transaction, the chief operating officer owned 186,811 shares of the company’s stock, valued at approximately $12,880,618.45. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samer Alkharrat sold 3,233 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $68.55, for a total transaction of $221,622.15. Following the completion of the sale, the executive vice president directly owned 117,934 shares of the company’s stock, valued at approximately $8,084,375.70. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 74,179 shares of company stock worth $5,081,720. 4.50% of the stock is currently owned by corporate insiders.

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.