Dayforce, Inc. (NYSE:DAY) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of Dayforce, Inc. (NYSE:DAY) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,725 shares of the company’s stock after acquiring an additional 443 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dayforce were worth $684,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in DAY. Envestnet Asset Management Inc. boosted its position in shares of Dayforce by 2.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 36,904 shares of the company’s stock worth $2,681,000 after acquiring an additional 1,018 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Dayforce by 2.7% during the 4th quarter. Russell Investments Group Ltd. now owns 32,364 shares of the company’s stock worth $2,350,000 after acquiring an additional 857 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Dayforce during the 4th quarter worth about $72,000. Raymond James Financial Inc. acquired a new position in shares of Dayforce during the 4th quarter worth about $1,764,000. Finally, Scotia Capital Inc. acquired a new position in shares of Dayforce during the 4th quarter worth about $509,000.

Insider Transactions at Dayforce

In related news, EVP William Everett Mcdonald sold 2,059 shares of Dayforce stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total value of $113,265.59. Following the transaction, the executive vice president owned 103,684 shares in the company, valued at approximately $5,703,656.84. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of Dayforce stock in a transaction on Friday, July 25th. The shares were sold at an average price of $59.69, for a total value of $278,095.71. Following the completion of the transaction, the executive vice president owned 127,632 shares in the company, valued at $7,618,354.08. The trade was a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,382 shares of company stock worth $539,860 over the last quarter. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

DAY has been the subject of a number of research analyst reports. Wells Fargo & Company cut Dayforce from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $60.00 to $50.00 in a research report on Friday, June 13th. KeyCorp decreased their price objective on Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler cut their target price on Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a research note on Monday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Dayforce in a report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Dayforce has a consensus rating of “Moderate Buy” and an average target price of $70.93.

Dayforce Price Performance

DAY stock opened at $51.53 on Wednesday. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The stock’s fifty day simple moving average is $56.84 and its 200-day simple moving average is $58.58. 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 stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 171.79, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. Dayforce had a return on equity of 7.37% and a net margin of 2.65%. The business had revenue of $464.70 million for the quarter, compared to analysts’ expectations of $457.83 million. During the same quarter last year, the firm earned $0.48 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Dayforce, Inc. will post 1.48 EPS 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.