Bessemer Group Inc. Sells 3,470 Shares of Dayforce, Inc. $DAY

Bessemer Group Inc. cut its stake in Dayforce, Inc. (NYSE:DAY) by 30.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,780 shares of the company’s stock after selling 3,470 shares during the quarter. Bessemer Group Inc.’s holdings in Dayforce were worth $432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DAY. EdgePoint Investment Group Inc. grew its stake in shares of Dayforce by 55.0% in the first quarter. EdgePoint Investment Group Inc. now owns 13,860,521 shares of the company’s stock valued at $808,484,000 after acquiring an additional 4,918,825 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Dayforce by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,620,415 shares of the company’s stock worth $969,470,000 after buying an additional 1,387,943 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Dayforce by 36.0% in the 1st quarter. Invesco Ltd. now owns 3,583,632 shares of the company’s stock valued at $209,033,000 after purchasing an additional 948,436 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Dayforce in the 1st quarter valued at approximately $28,416,000. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Dayforce by 27.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 960,484 shares of the company’s stock valued at $56,025,000 after buying an additional 208,078 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DAY. Mizuho set a $70.00 price objective on shares of Dayforce in a report on Friday, August 22nd. TD Cowen lowered shares of Dayforce from a “buy” rating to a “hold” rating in a research note on Thursday, August 21st. Citigroup lowered shares of Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Wednesday, September 17th. KeyCorp downgraded shares of Dayforce from an “overweight” rating to a “sector weight” rating in a report on Friday, August 22nd. Finally, Barclays lifted their price objective on shares of Dayforce from $61.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.36.

Insider Activity at Dayforce

In related news, EVP Samer Alkharrat sold 3,233 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $68.55, for a total value of $221,622.15. Following the transaction, the executive vice president directly owned 117,934 shares in the company, valued at approximately $8,084,375.70. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $68.95, for a total transaction of $137,900.00. Following the transaction, the chief operating officer owned 186,811 shares in the company, valued at $12,880,618.45. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,474 shares of company stock valued at $1,676,470 in the last ninety days. 4.50% of the stock is currently owned by company insiders.

Dayforce Trading Up 0.4%

Shares of Dayforce stock opened at $68.74 on Monday. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69. The company has a market cap of $11.00 billion, a price-to-earnings ratio of -73.12, a PEG ratio of 2.53 and a beta of 1.20. 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 company’s 50-day moving average price is $68.87 and its 200-day moving average price is $61.55.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The firm had revenue of $481.60 million during the quarter, compared to analysts’ expectations of $481.22 million. Dayforce had a positive return on equity of 6.54% and a negative net margin of 7.91%.The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. On average, equities analysts expect 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.