Russell Investments Group Ltd. Increases Position in Dayforce, Inc. $DAY

Russell Investments Group Ltd. grew its holdings in Dayforce, Inc. (NYSE:DAY) by 33.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 43,155 shares of the company’s stock after buying an additional 10,791 shares during the period. Russell Investments Group Ltd.’s holdings in Dayforce were worth $2,517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DAY. Mather Group LLC. raised its holdings in shares of Dayforce by 196.9% in the first quarter. Mather Group LLC. now owns 962 shares of the company’s stock valued at $56,000 after buying an additional 638 shares during the last quarter. Covestor Ltd raised its holdings in shares of Dayforce by 15.6% in the first 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. Mufg Securities Americas Inc. purchased a new stake in shares of Dayforce in the fourth quarter valued at about $169,000. CX Institutional purchased a new stake in shares of Dayforce in the first quarter valued at about $190,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Dayforce by 38.6% in the first quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company’s stock valued at $214,000 after buying an additional 1,022 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Dayforce from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Piper Sandler raised shares of Dayforce to a “strong-buy” rating in a report on Tuesday, August 19th. William Blair cut shares of Dayforce from an “outperform” rating to a “hold” rating in a report on Wednesday, August 20th. TD Cowen cut shares of Dayforce from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company raised shares of Dayforce from a “strong sell” rating to an “equal weight” rating and increased their price target for the stock from $50.00 to $70.00 in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Dayforce has a consensus rating of “Hold” and a consensus price target of $72.14.

Insider Buying and Selling at Dayforce

In other Dayforce news, EVP William Everett Mcdonald sold 2,059 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total value of $113,265.59. Following the completion of the transaction, the executive vice president directly owned 103,684 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of the stock in a transaction dated 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 approximately $7,618,354.08. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,382 shares of company stock valued at $539,860. Corporate insiders own 4.50% of the company’s stock.

Dayforce Trading Up 0.3%

Shares of Dayforce stock opened at $69.1750 on Monday. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a market cap of $11.05 billion, a PE ratio of 230.59, a price-to-earnings-growth ratio of 2.60 and a beta of 1.11. The company has a 50-day moving average of $57.28 and a two-hundred day moving average of $58.04.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The company had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $457.83 million. During the same period last year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

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.