Price Rowe Associates Sells Shares of Dayforce, Inc. for $210,312

On October 22, 2023, Price Rowe Associates Inc, a major shareholder of Dayforce, Inc. (NYSE:DAY), executed the sale of 3,077 shares of the company’s stock. The shares were sold at an average price of $68.35, resulting in a total transaction value of $210,312.95.

Following this transaction, Price Rowe Associates now holds 24,794,038 shares of Dayforce, valued at approximately $1,694,672,497.30. This sale represents a minor reduction of 0.01% in their ownership stake in the company. Such transactions are mandated to be disclosed to the Securities and Exchange Commission (SEC), as shareholders owning at least 10% of a company’s shares must report their trading activities.

Dayforce Stock Performance and Financial Overview

As of the market opening on Friday, Dayforce shares were trading at $68.48. Over the past year, the stock has fluctuated between a 52-week low of $48.01 and a 52-week high of $82.69. The company has an impressive market capitalization of $10.94 billion and a price-to-earnings (PE) ratio of 228.28. Analysts have noted a price-to-earnings-growth (PEG) ratio of 2.52, indicating a relatively high valuation compared to its growth prospects.

Dayforce’s recent financial performance was highlighted in its earnings report released on August 6, 2023. The company reported earnings per share (EPS) of $0.61, exceeding the consensus estimate of $0.52 by $0.09. The firm achieved a net margin of 2.65% and a return on equity of 7.37%, with quarterly revenues reaching $464.70 million, outperforming analyst expectations of $457.83 million. This revenue figure also reflects a year-over-year increase of 9.8%.

Institutional Investment Activity

Recent activity among institutional investors has also drawn attention. For instance, Principal Financial Group Inc. increased its stake in Dayforce by 53.0% during the first quarter, acquiring an additional 94,635 shares to bring its total holdings to 273,055 shares, valued at approximately $15,927,000.

Other notable transactions include the Teacher Retirement System of Texas, which purchased a new position valued at around $1,282,000, and Mirae Asset Global Investments Co. Ltd., which raised its stake by 13.4%, now owning 21,585 shares worth $1,259,000.

Overall, Dayforce, Inc. operates as a human capital management (HCM) software company, providing a comprehensive cloud HCM platform that encompasses various functionalities such as human resources, payroll, workforce management, and talent intelligence. The company serves clients in the United States, Canada, and internationally, solidifying its position in the competitive HCM market.

As analysts project, Dayforce is expected to report a full-year EPS of $1.48, continuing its trajectory of growth and interest from institutional investors.