Friedenthal Financial Invests $824,000 in Dayforce Inc (NYSE:DAY)

Friedenthal Financial bought a new stake in Dayforce Inc (NYSE:DAY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,345 shares of the company’s stock, valued at approximately $824,000.

A number of other large investors have also recently bought and sold shares of DAY. Select Equity Group L.P. acquired a new position in Dayforce in the 2nd quarter valued at $721,310,000. EdgePoint Investment Group Inc. purchased a new position in Dayforce during the second quarter worth about $521,396,000. Dragoneer Investment Group LLC acquired a new stake in Dayforce in the 2nd quarter worth about $193,274,000. Dimensional Fund Advisors LP purchased a new stake in Dayforce in the 2nd quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. acquired a new position in shares of Dayforce during the 2nd quarter valued at about $49,600,000.

Insider Buying and Selling at Dayforce

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction 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 trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, 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. In the last 90 days, insiders have sold 865,340 shares of company stock valued at $68,770,223. Company insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DAY shares. Needham & Company LLC raised their target price on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group boosted their price objective on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Barclays cut their target price on Dayforce from $84.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday. KeyCorp boosted their price target on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Dayforce currently has a consensus rating of “Moderate Buy” and an average price target of $79.93.

Dayforce Stock Performance

Dayforce stock traded up $0.26 during mid-day trading on Monday, hitting $70.55. 984,943 shares of the company’s stock traded hands, compared to its average volume of 1,112,722. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. The company has a market cap of $11.13 billion, a PE ratio of 213.79, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The firm has a 50 day moving average price of $76.40 and a 200 day moving average price of $64.08. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce 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.