ProShare Advisors LLC Increases Stock Holdings in Dayforce, Inc. $DAY

ProShare Advisors LLC increased its stake in shares of Dayforce, Inc. (NYSE:DAY) by 14.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 27,492 shares of the company’s stock after acquiring an additional 3,375 shares during the period. ProShare Advisors LLC’s holdings in Dayforce were worth $1,523,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in shares of Dayforce during the first quarter worth $30,000. Assetmark Inc. increased its stake in Dayforce by 701.4% during the 2nd quarter. Assetmark Inc. now owns 561 shares of the company’s stock worth $31,000 after buying an additional 491 shares during the period. National Pension Service lifted its holdings in 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 in the last quarter. Covestor Ltd boosted its position in Dayforce by 15.6% in the 1st quarter. Covestor Ltd now owns 1,430 shares of the company’s stock valued at $83,000 after buying an additional 193 shares during the last quarter. Finally, Groupe la Francaise acquired a new stake in shares of Dayforce during the first quarter valued at about $143,000.

Analysts Set New Price Targets

DAY has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 price target (down previously from $72.00) on shares of Dayforce in a research note on Friday, September 19th. Weiss Ratings downgraded Dayforce from a “hold (c)” rating to a “sell (d)” rating in a report on Thursday. William Blair cut Dayforce from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 20th. Mizuho set a $70.00 price target on shares of Dayforce in a research note on Friday, August 22nd. Finally, Jefferies Financial Group upped their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.36.

Dayforce Stock Performance

Shares of NYSE DAY opened at $68.99 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $68.70 and its two-hundred day moving average price is $62.43. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The stock has a market capitalization of $11.04 billion, a P/E ratio of -73.39, a P/E/G ratio of 2.67 and a beta of 1.20.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, October 29th. The company reported $0.37 EPS 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 the consensus estimate of $481.22 million. Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. As a group, sell-side analysts forecast that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Samer Alkharrat sold 3,233 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $68.55, for a total value of $221,622.15. Following the sale, the executive vice president owned 117,934 shares of the company’s stock, valued at $8,084,375.70. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of Dayforce stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $68.74, for a total transaction of $697,504.78. Following the completion of the sale, the insider owned 24,743,271 shares in the company, valued at approximately $1,700,852,448.54. This represents a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 74,179 shares of company stock valued at $5,081,720 over the last three months. Corporate insiders own 4.50% of the company’s stock.

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.