US Bancorp DE Cuts Holdings in Dayforce, Inc. $DAY

US Bancorp DE cut its position in shares of Dayforce, Inc. (NYSE:DAY) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,011 shares of the company’s stock after selling 292 shares during the quarter. US Bancorp DE’s holdings in Dayforce were worth $117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Dayforce by 53.0% in the first quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock valued at $15,927,000 after acquiring an additional 94,635 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Dayforce in the first quarter valued at approximately $1,282,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Dayforce by 13.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company’s stock valued at $1,259,000 after purchasing an additional 2,557 shares during the period. Amalgamated Bank increased its holdings in Dayforce by 2.2% during the 1st quarter. Amalgamated Bank now owns 30,966 shares of the company’s stock worth $1,806,000 after acquiring an additional 661 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Dayforce by 7.1% during the 1st quarter. Fifth Third Bancorp now owns 9,802 shares of the company’s stock worth $572,000 after acquiring an additional 648 shares during the period.

Insider Activity

In other Dayforce news, 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 transaction of $278,095.71. Following the completion of the transaction, the executive vice president directly owned 127,632 shares of the company’s stock, valued at $7,618,354.08. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total transaction of $110,020.00. Following the sale, the chief operating officer directly owned 190,811 shares of the company’s stock, valued at $10,496,513.11. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,382 shares of company stock worth $539,860 over the last quarter. Insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

DAY has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of Dayforce in a report on Friday, May 23rd. Wells Fargo & Company cut shares of Dayforce from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $60.00 to $50.00 in a research note on Friday, June 13th. UBS Group upped their price objective on shares of Dayforce from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Barclays increased their price target on shares of Dayforce from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Finally, Piper Sandler dropped their target price on shares of Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and an average target price of $70.93.

Dayforce Stock Down 0.9%

NYSE:DAY opened at $52.92 on Monday. The firm has a 50-day simple moving average of $56.45 and a two-hundred day simple moving average of $58.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $8.45 billion, a P/E ratio of 176.41, a P/E/G ratio of 1.98 and a beta of 1.11. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69.

Dayforce (NYSE:DAY) last issued 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. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The business had revenue of $464.70 million for the quarter, compared to the consensus estimate of $457.83 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts predict that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal 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.