Vanguard Group Inc. Buys 197,773 Shares of Dayforce Inc (NYSE:DAY)

Vanguard Group Inc. raised its stake in shares of Dayforce Inc (NYSE:DAY) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 17,319,275 shares of the company’s stock after purchasing an additional 197,773 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Dayforce worth $1,258,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in Dayforce in the 3rd quarter valued at $51,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Dayforce in the fourth quarter valued at about $61,000. AlphaQuest LLC increased its stake in shares of Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after purchasing an additional 1,036 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in Dayforce during the 3rd quarter valued at approximately $179,000.

Dayforce Stock Performance

Shares of NYSE:DAY opened at $59.71 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The business’s fifty day moving average price is $63.51 and its two-hundred day moving average price is $67.83. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 542.83, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on DAY shares. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Citigroup cut their target price on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $67.00 to $68.00 in a research report on Friday, March 7th. Jefferies Financial Group cut their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.86.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

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.