Dayforce, Inc. $DAY Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of Dayforce, Inc. (NYSE:DAY) by 34.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,438 shares of the company’s stock after selling 154,643 shares during the quarter. Legal & General Group Plc’s holdings in Dayforce were worth $16,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dayforce by 9.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,835 shares of the company’s stock worth $2,965,000 after purchasing an additional 4,257 shares in the last quarter. LPL Financial LLC boosted its stake in Dayforce by 83.5% during the 1st quarter. LPL Financial LLC now owns 60,716 shares of the company’s stock valued at $3,542,000 after purchasing an additional 27,637 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Dayforce by 26.4% during the 1st quarter. Mackenzie Financial Corp now owns 43,011 shares of the company’s stock valued at $2,509,000 after purchasing an additional 8,973 shares during the period. XTX Topco Ltd bought a new stake in shares of Dayforce in the 1st quarter worth $486,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Dayforce by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 11,725 shares of the company’s stock valued at $684,000 after buying an additional 443 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen lowered Dayforce from a “buy” rating to a “hold” rating in a report on Thursday, August 21st. Piper Sandler raised shares of Dayforce to a “strong-buy” rating in a research note on Tuesday, August 19th. Needham & Company LLC reiterated a “hold” rating on shares of Dayforce in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Finally, KeyCorp cut Dayforce from an “overweight” rating to a “sector weight” rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $70.36.

Dayforce Stock Up 0.1%

DAY stock opened at $69.10 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $11.06 billion, a P/E ratio of -73.51, a P/E/G ratio of 2.67 and a beta of 1.20. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $81.93. The company’s 50 day simple moving average is $68.70 and its 200-day simple moving average is $63.17.

Dayforce (NYSE:DAY) last posted 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 firm had revenue of $481.60 million for the quarter, compared to analysts’ expectations of $481.22 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Dayforce, Inc. will post 1.48 EPS for the current year.

Insider Activity at Dayforce

In related news, major shareholder Price T. Rowe Associates Inc /M sold 39,558 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $68.45, for a total value of $2,707,745.10. Following the completion of the sale, the insider directly owned 24,753,418 shares of the company’s stock, valued at approximately $1,694,371,462.10. This represents a 0.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samer Alkharrat sold 3,233 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was 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. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 76,179 shares of company stock valued at $5,219,460. Company insiders own 4.50% of the company’s stock.

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.