TD Asset Management Inc Cuts Stock Position in Dayforce, Inc. $DAY

TD Asset Management Inc lowered its stake in Dayforce, Inc. (NYSE:DAY) by 34.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,243 shares of the company’s stock after selling 15,357 shares during the period. TD Asset Management Inc’s holdings in Dayforce were worth $1,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAY. SVB Wealth LLC purchased a new stake in shares of Dayforce in the 1st quarter worth approximately $30,000. National Pension Service grew its stake in shares of Dayforce by 74.5% in the 1st quarter. National Pension Service now owns 541 shares of the company’s stock worth $32,000 after buying an additional 231 shares during the last quarter. Mather Group LLC. grew its stake in shares of Dayforce by 196.9% in the 1st quarter. Mather Group LLC. now owns 962 shares of the company’s stock worth $56,000 after buying an additional 638 shares during the last quarter. Covestor Ltd grew its stake in shares of Dayforce by 15.6% in the 1st quarter. Covestor Ltd now owns 1,430 shares of the company’s stock worth $83,000 after buying an additional 193 shares during the last quarter. Finally, Groupe la Francaise purchased a new stake in shares of Dayforce in the 1st quarter worth approximately $143,000.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Everett Mcdonald sold 1,912 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 101,772 shares in the company, valued at approximately $6,945,939. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,302 shares of company stock valued at $1,212,928 over the last 90 days. 4.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DAY. KeyCorp downgraded Dayforce from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 22nd. Piper Sandler raised Dayforce to a “strong-buy” rating in a research report on Tuesday, August 19th. TD Cowen cut Dayforce from a “buy” rating to a “hold” rating in a research report on Thursday, August 21st. Citigroup cut Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dayforce in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.36.

Dayforce Price Performance

NYSE DAY opened at $68.50 on Thursday. The business’s fifty day moving average price is $68.17 and its 200-day moving average price is $60.68. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 228.33, a PEG ratio of 2.52 and a beta of 1.17. 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 results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.09. The firm had revenue of $464.70 million for the quarter, compared to analysts’ expectations of $457.83 million. Dayforce had a return on equity of 7.37% and a net margin of 2.65%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. On average, equities analysts predict that Dayforce, Inc. will post 1.48 earnings per share for the current year.

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.