Dayforce (DAY)

• Market cap: $11B
• 1 day: -0.04%
• 5 days: -1.56%
• 1 month: -5.95%
• 3 months: 7.41%
• 6 months: 29.57%
• Year to date: -2.52%
• 1 year: 2.61%
• 5 years: -3.64%
• 10 years: 122.97%
• 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: $9.31B [Q2] → $11.4B (+$2.06B) [Q3]

17% more repeat investments, than reductions

Existing positions increased: 141 | Existing positions reduced: 121

4% less first-time investments, than exits

New positions opened: 53 | Existing positions closed: 55

1.44% less ownership

Funds ownership: 118.94% [Q2] → 117.49% (-1.44%) [Q3]

2% less funds holding

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

Research analyst outlook

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

• Low target: $65 7% downside
• Avg. target: $85 23% upside
• High target: $95 37% upside

11 analyst ratings

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

Citigroup Steven Enders 81% 1-year accuracy 21 / 26 met price target	19% upside $83	Buy Maintained	16 Jan 2025
Barclays Raimo Lenschow 57% 1-year accuracy 48 / 84 met price target	15% upside $80	Equal-Weight Maintained	10 Jan 2025
Deutsche Bank Bhavin Shah 100% 1-year accuracy 4 / 4 met price target	15% upside $80	Hold Downgraded	8 Jan 2025
Stifel	29% upside $90	Buy Maintained	18 Dec 2024
Scotiabank Allan Verkhovski 43% 1-year accuracy 3 / 7 met price target	8% upside $75	Sector Perform Initiated	18 Nov 2024