10:47 AM EDT, 04/04/2024 (MT Newswires) -- Dayforce's ( DAY ) shares fell 1.4% in recent Thursday trading after short-seller Blue Orca Capital said it had taken a short position on the stock.

The investment firm said in a report that it believes that Dayforce ( DAY ) "engages in highly aggressive revenue recognition and

accounting maneuvers to inappropriately pull forward revenues and inflate profits."

Blue Orca Capital in the report alleged that Dayforce ( DAY ) also tampers with profitability metrics, misleading investors, and enriching management.

"Dayforce ( DAY ) is a governance mess beset by absurd executive pay packages, misleading non-GAAP metrics, unusual adverse auditor opinions on internal controls, insider selling, and heavy management turnover," the firm said.

Dayforce ( DAY ) did not immediately reply to MT Newswires' request for comment.

Price: 63.96, Change: -0.59, Percent Change: -1.35