Dayforce, Inc. $DAY Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Dayforce, Inc. (NYSE:DAY) by 3.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,506,214 shares of the company’s stock after purchasing an additional 45,623 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Dayforce were worth $83,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DAY. Mufg Securities Americas Inc. raised its stake in Dayforce by 25.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 3,543 shares of the company’s stock valued at $196,000 after acquiring an additional 729 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Dayforce by 18.4% during the second quarter. Handelsbanken Fonder AB now owns 40,500 shares of the company’s stock valued at $2,243,000 after purchasing an additional 6,300 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Dayforce during the second quarter valued at $699,000. Catalyst Funds Management Pty Ltd raised its stake in shares of Dayforce by 112.5% during the second quarter. Catalyst Funds Management Pty Ltd now owns 11,900 shares of the company’s stock valued at $659,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Greenland Capital Management LP acquired a new stake in Dayforce in the second quarter worth about $3,264,000.

Wall Street Analyst Weigh In

DAY has been the topic of several research analyst reports. Mizuho set a $70.00 target price on shares of Dayforce in a research note on Friday, August 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $70.00 price objective (up from $67.00) on shares of Dayforce in a report on Friday, August 22nd. Citigroup cut Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dayforce in a research note on Tuesday. Finally, Wells Fargo & Company upgraded Dayforce from a “strong sell” rating to an “equal weight” rating and lifted their price target for the company from $50.00 to $70.00 in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.36.

Dayforce Stock Performance

DAY opened at $69.10 on Friday. 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 firm has a market cap of $11.06 billion, a PE ratio of -73.51, a P/E/G ratio of 2.67 and a beta of 1.20. The business has a fifty day simple moving average of $68.70 and a 200-day simple moving average of $63.20. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $81.93.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, October 29th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.19). Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The company had revenue of $481.60 million for the quarter, compared to analysts’ expectations of $481.22 million. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of Dayforce stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $68.74, for a total value of $697,504.78. Following the transaction, the insider directly owned 24,743,271 shares of the company’s stock, valued at $1,700,852,448.54. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $68.87, for a total transaction of $137,740.00. Following the sale, the chief operating officer owned 178,814 shares in the company, valued at $12,314,920.18. This represents a 1.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,179 shares of company stock valued at $5,219,460 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Dayforce Company 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.