Metis Global Partners LLC Sells 2,403 Shares of Dayforce, Inc. $DAY

Metis Global Partners LLC lowered its stake in shares of Dayforce, Inc. (NYSE:DAY) by 38.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,772 shares of the company’s stock after selling 2,403 shares during the period. Metis Global Partners LLC’s holdings in Dayforce were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new position in Dayforce in the first quarter valued at $30,000. National Pension Service lifted its stake in Dayforce by 74.5% during the first quarter. National Pension Service now owns 541 shares of the company’s stock worth $32,000 after purchasing an additional 231 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Dayforce by 701.4% in the 2nd quarter. Assetmark Inc. now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 491 shares in the last quarter. Covestor Ltd increased its position in shares of Dayforce by 15.6% during the 1st quarter. Covestor Ltd now owns 1,430 shares of the company’s stock valued at $83,000 after purchasing an additional 193 shares during the last quarter. Finally, Groupe la Francaise purchased a new position in shares of Dayforce during the 1st quarter valued at about $143,000.

Dayforce Stock Down 0.1%

Shares of NYSE:DAY opened at $68.91 on Friday. The stock’s 50-day moving average is $68.70 and its 200 day moving average is $62.32. The company has a market cap of $11.03 billion, a PE ratio of -73.30, a P/E/G ratio of 2.67 and a beta of 1.20. 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, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69.

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

Insiders Place Their Bets

In other news, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $68.74, for a total value of $697,504.78. Following the completion of the sale, the insider directly owned 24,743,271 shares of the company’s stock, valued at approximately $1,700,852,448.54. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $68.25, for a total transaction of $136,500.00. Following the sale, the chief operating officer directly owned 184,811 shares in the company, valued at $12,613,350.75. The trade was a 1.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 74,179 shares of company stock worth $5,081,720. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $70.00 target price (up previously from $67.00) on shares of Dayforce in a research note on Friday, August 22nd. Barclays upped their price objective on shares of Dayforce from $61.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, August 22nd. TD Cowen lowered shares of Dayforce from a “buy” rating to a “hold” rating in a report on Thursday, August 21st. Jefferies Financial Group boosted their price target on shares of Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, August 21st. Finally, William Blair cut Dayforce from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.