Asset Management One Co. Ltd. Reduces Holdings in Dayforce, Inc. $DAY

Asset Management One Co. Ltd. reduced its holdings in shares of Dayforce, Inc. (NYSE:DAY) by 88.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,562 shares of the company’s stock after selling 58,824 shares during the period. Asset Management One Co. Ltd.’s holdings in Dayforce were worth $419,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DAY. Principal Financial Group Inc. grew its position in shares of Dayforce by 53.0% during the 1st quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock valued at $15,927,000 after acquiring an additional 94,635 shares during the period. Teacher Retirement System of Texas bought a new position in Dayforce in the 1st quarter worth $1,282,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Dayforce by 13.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company’s stock valued at $1,259,000 after purchasing an additional 2,557 shares in the last quarter. Amalgamated Bank lifted its position in Dayforce by 2.2% during the first quarter. Amalgamated Bank now owns 30,966 shares of the company’s stock valued at $1,806,000 after purchasing an additional 661 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in Dayforce by 26.0% during the first quarter. UniSuper Management Pty Ltd now owns 32,741 shares of the company’s stock valued at $1,910,000 after purchasing an additional 6,763 shares during the period.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Mizuho set a $70.00 target price on shares of Dayforce in a report on Friday, August 22nd. Barclays raised their target price on shares of Dayforce from $61.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 22nd. William Blair lowered shares of Dayforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $70.00 price objective (down from $72.00) on shares of Dayforce in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.36.

Dayforce Stock Up 0.2%

Shares of DAY stock opened at $68.46 on Friday. The company’s fifty day simple moving average is $68.88 and its two-hundred day simple moving average is $61.38. Dayforce, Inc. has a 52 week low of $48.01 and a 52 week high of $82.69. The stock has a market cap of $10.93 billion, a P/E ratio of -72.83, a PEG ratio of 2.52 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Dayforce (NYSE:DAY) last issued its 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 firm 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 6.59% 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 last year, the firm posted $0.47 earnings per share. Analysts predict that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Insider Transactions at Dayforce

In other Dayforce news, EVP William Everett Mcdonald sold 1,912 shares of Dayforce stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total value of $130,494.00. Following the sale, the executive vice president owned 101,772 shares of the company’s stock, valued at $6,945,939. The trade was a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $68.95, for a total value of $137,900.00. Following the sale, the chief operating officer directly owned 186,811 shares in the company, valued at $12,880,618.45. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 24,474 shares of company stock worth $1,676,470. 4.50% of the stock is owned by corporate insiders.

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.