Tidal Investments LLC Raises Stock Holdings in Dayforce Inc (NYSE:DAY)

Tidal Investments LLC lifted its holdings in shares of Dayforce Inc (NYSE:DAY) by 85.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,359 shares of the company’s stock after purchasing an additional 13,078 shares during the quarter. Tidal Investments LLC’s holdings in Dayforce were worth $1,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DAY. Select Equity Group L.P. purchased a new stake in Dayforce in the second quarter worth approximately $721,310,000. KBC Group NV purchased a new stake in Dayforce in the third quarter worth approximately $946,000. Adero Partners LLC purchased a new stake in Dayforce in the third quarter worth approximately $4,987,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dayforce in the third quarter worth approximately $19,273,000. Finally, Elo Mutual Pension Insurance Co purchased a new stake in Dayforce in the second quarter worth approximately $673,000.

Insiders Place Their Bets

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. This represents a 1.85 % 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, CEO David D. Ossip sold 858,697 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is owned by corporate insiders.

Dayforce Price Performance

Shares of Dayforce stock opened at $77.45 on Wednesday. The business has a 50 day moving average of $73.76 and a 200 day moving average of $61.24. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market cap of $12.21 billion, a PE ratio of 234.68, a P/E/G ratio of 3.68 and a beta of 1.26. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69.

Analyst Ratings Changes

Several analysts have issued reports on DAY shares. Scotiabank started coverage on Dayforce in a research note on Monday, November 18th. They issued a “sector perform” rating and a $75.00 target price for the company. TD Cowen increased their price objective on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets increased their price objective on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and set a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, Needham & Company LLC increased their price objective on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.08.

Dayforce Company Profile

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.