EdgePoint Investment Group Inc. Has $899.78 Million Holdings in Dayforce, Inc. $DAY

EdgePoint Investment Group Inc. boosted its holdings in shares of Dayforce, Inc. (NYSE:DAY) by 17.2% during the 2nd quarter, Holdings Channel reports. The fund owned 16,244,490 shares of the company’s stock after buying an additional 2,383,969 shares during the period. Dayforce comprises about 6.8% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 4th largest position. EdgePoint Investment Group Inc. owned approximately 0.10% of Dayforce worth $899,782,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Dayforce by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 17,648,163 shares of the company’s stock worth $977,532,000 after purchasing an additional 296,198 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Dayforce by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,620,415 shares of the company’s stock worth $969,470,000 after buying an additional 1,387,943 shares in the last quarter. Dragoneer Investment Group LLC raised its stake in Dayforce by 0.5% in the second quarter. Dragoneer Investment Group LLC now owns 4,749,842 shares of the company’s stock worth $263,094,000 after buying an additional 23,592 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Dayforce by 0.3% during the second quarter. Geode Capital Management LLC now owns 4,014,285 shares of the company’s stock worth $221,912,000 after buying an additional 13,139 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Dayforce by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,506,214 shares of the company’s stock valued at $83,429,000 after acquiring an additional 45,623 shares in the last quarter.

Dayforce Stock Performance

Shares of Dayforce stock opened at $69.25 on Friday. The company has a 50 day moving average price of $68.74 and a 200 day moving average price of $63.90. The firm has a market capitalization of $11.08 billion, a P/E ratio of -73.66, a PEG ratio of 2.67 and a beta of 1.20. 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, Inc. has a 52 week low of $48.01 and a 52 week high of $78.06.

Dayforce (NYSE:DAY) last released its earnings results 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). The company had revenue of $481.60 million for the quarter, compared to analysts’ expectations of $481.22 million. Dayforce had a positive return on equity of 6.54% and a negative net margin of 7.91%.The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. Sell-side analysts expect that Dayforce, Inc. will post 1.48 EPS for the current year.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $68.87, for a total transaction of $137,740.00. Following the sale, the chief operating officer owned 178,814 shares in the company, valued at approximately $12,314,920.18. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the 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 transaction, the insider directly owned 24,743,271 shares in the company, valued at $1,700,852,448.54. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 76,179 shares of company stock valued at $5,219,460 over the last three months. 4.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DAY. Piper Sandler raised Dayforce to a “strong-buy” rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Dayforce in a report on Monday. Jefferies Financial Group increased their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, August 21st. UBS Group cut shares of Dayforce from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $70.00 price objective (up previously from $67.00) on shares of Dayforce in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Dayforce currently has a consensus rating of “Hold” and a consensus price target 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.