Mitsubishi UFJ Asset Management Co. Ltd. Lowers Stock Position in Dayforce, Inc. $DAY

Mitsubishi UFJ Asset Management Co. Ltd. lessened its position in shares of Dayforce, Inc. (NYSE:DAY) by 41.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 164,098 shares of the company’s stock after selling 118,440 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Dayforce worth $9,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. boosted its stake in shares of Dayforce by 0.8% during the 1st quarter. Xponance Inc. now owns 22,673 shares of the company’s stock worth $1,323,000 after acquiring an additional 179 shares in the last quarter. Covestor Ltd increased its stake 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 purchasing an additional 193 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Dayforce by 1.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 19,984 shares of the company’s stock worth $1,103,000 after purchasing an additional 196 shares during the period. HighTower Advisors LLC raised its holdings in Dayforce by 3.5% in the 1st quarter. HighTower Advisors LLC now owns 5,931 shares of the company’s stock worth $346,000 after purchasing an additional 203 shares during the period. Finally, National Pension Service boosted its position in Dayforce by 74.5% during the first quarter. National Pension Service now owns 541 shares of the company’s stock worth $32,000 after purchasing an additional 231 shares in the last quarter.

Insider Buying and Selling at Dayforce

In related news, EVP Samer Alkharrat sold 3,233 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $68.55, for a total value of $221,622.15. Following the completion of the sale, the executive vice president owned 117,934 shares of the company’s stock, valued at approximately $8,084,375.70. This trade 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 can be accessed through this link. Also, EVP William Everett Mcdonald sold 1,912 shares of Dayforce stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total value of $130,494.00. Following the transaction, the executive vice president owned 101,772 shares in the company, valued at approximately $6,945,939. The trade was a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 74,179 shares of company stock worth $5,081,720 in the last quarter. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

DAY has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded Dayforce from a “strong sell” rating to an “equal weight” rating and boosted their price objective for the company from $50.00 to $70.00 in a research report on Friday, August 22nd. Mizuho set a $70.00 price target on shares of Dayforce in a report on Friday, August 22nd. KeyCorp cut shares of Dayforce from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Dayforce in a report on Thursday, October 30th. Finally, Citigroup cut shares of Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.36.

Dayforce Trading Up 0.2%

Shares of DAY stock opened at $68.96 on Thursday. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69. 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 stock’s fifty day moving average is $68.72 and its two-hundred day moving average is $62.27. The firm has a market capitalization of $11.04 billion, a P/E ratio of -73.36, a PEG ratio of 2.66 and a beta of 1.20.

Dayforce (NYSE:DAY) last released its 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 business had revenue of $481.60 million for 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%.Dayforce’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. Research analysts expect that Dayforce, Inc. will post 1.48 earnings per share 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.