Dayforce (DAY)

• Market cap: $11.8B
• 1 day: 1.14%
• 5 days: -2.96%
• 1 month: -1.41%
• 3 months: 27.04%
• 6 months: 50.10%
• Year to date: 13.36%
• 1 year: 12.41%
• 5 years: 13.88%
• 10 years: 139.79%
• Sector: Information Technology
• Industry: Prepackaged Software

About: Dayforce provides payroll and human capital management solutions targeting clients with 100-100,000 employees. Following the 2012 acquisition of Dayforce, Dayforce pivoted away from its legacy on-premises Bureau business to become a cloud HCM provider. As of fiscal 2022, about 80% of group revenue was derived from the flagship Dayforce platform geared toward enterprise clients. The remaining revenue is about evenly split between cloud platform Powerpay, targeting small businesses in Canada, and legacy Bureau products.

Employees: 9,084

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

94% more call options, than puts

Call options by funds: $36.7M | Put options by funds: $18.9M

33% more funds holding in top 10

Funds holding in top 10: 3 [Q2] → 4 (+1) [Q3]

22% more capital invested

Capital invested by funds: $9.3B [Q2] → $11.4B (+$2.06B) [Q3]

17% more repeat investments, than reductions

Existing positions increased: 141 | Existing positions reduced: 121

1.45% less ownership

Funds ownership: 118.69% [Q2] → 117.23% (-1.45%) [Q3]

2% less funds holding

Funds holding: 359 [Q2] → 352 (-7) [Q3]

12% less first-time investments, than exits

New positions opened: 53 | Existing positions closed: 60

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $62 17% downside
• Avg. target: $84 12% upside
• High target: $95 27% upside

11 analyst ratings

• positive: 7 64%
• neutral: 4 36%
• negative: 0 0%

Stifel	20% upside $90	Buy Maintained	18 Dec 2024
Barclays Raimo Lenschow 59% 1-year accuracy 52 / 88 met price target	12% upside $84	Equal-Weight Maintained	6 Dec 2024
Scotiabank Allan Verkhovski 50% 1-year accuracy 3 / 6 met price target	0% upside $75	Sector Perform Initiated	18 Nov 2024
Keybanc Jason Celino 70% 1-year accuracy 40 / 57 met price target	23% upside $92	Overweight Maintained	13 Nov 2024
Piper Sandler Arvind Ramnani 86% 1-year accuracy 49 / 57 met price target	26% upside $94	Overweight Reiterated	13 Nov 2024