Signaturefd LLC Cuts Stock Holdings in Dayforce, Inc. $DAY

Signaturefd LLC trimmed its position in Dayforce, Inc. (NYSE:DAY) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,231 shares of the company’s stock after selling 304 shares during the quarter. Signaturefd LLC’s holdings in Dayforce were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DAY. SVB Wealth LLC bought a new position in shares of Dayforce during the 1st quarter valued at approximately $30,000. National Pension Service increased its holdings in shares of 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 during the last quarter. Mather Group LLC. raised its position in shares of Dayforce by 196.9% during the 1st quarter. Mather Group LLC. now owns 962 shares of the company’s stock valued at $56,000 after buying an additional 638 shares in the last quarter. Covestor Ltd lifted its holdings in shares of 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 acquiring an additional 193 shares during the last quarter. Finally, Groupe la Francaise bought a new position in shares of Dayforce in the 1st quarter valued at about $143,000.

Insider Buying and Selling at Dayforce

In other news, EVP William Everett Mcdonald sold 2,059 shares of the business’s 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 sale, the executive vice president owned 103,684 shares in the company, valued at approximately $5,703,656.84. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $68.95, for a total transaction of $137,900.00. Following the completion of the sale, the chief operating officer directly owned 186,811 shares of the company’s stock, valued at $12,880,618.45. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,950 shares of company stock valued at $861,578. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

DAY has been the topic of several analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $70.00 price objective (up from $67.00) on shares of Dayforce in a research note on Friday, August 22nd. Mizuho set a $70.00 target price on Dayforce in a research report on Friday, August 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Dayforce in a research report on Saturday, September 27th. William Blair lowered shares of Dayforce from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, Piper Sandler upgraded shares of Dayforce to a “strong-buy” rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $70.36.

Dayforce Stock Up 0.0%

Shares of NYSE DAY opened at $69.02 on Monday. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 230.09, a PEG ratio of 2.54 and a beta of 1.17. The stock has a 50 day moving average price of $64.59 and a 200 day moving average price of $59.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $457.83 million. During the same period in the previous year, the company posted $0.48 EPS. Dayforce’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that Dayforce, Inc. will post 1.48 earnings per share for the current 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.