PDT Partners LLC Invests $988,000 in Dayforce Inc (NYSE:DAY)

PDT Partners LLC bought a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,600 shares of the company's stock, valued at approximately $988,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Dayforce during the fourth quarter worth $61,000. Federated Hermes Inc. acquired a new position in shares of Dayforce during the 4th quarter worth about $72,000. AlphaQuest LLC increased its stake in shares of Dayforce by 14,800.0% in the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after acquiring an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after acquiring an additional 501 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Dayforce by 52.1% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $213,000 after acquiring an additional 1,002 shares during the last quarter.

Dayforce Stock Performance

Shares of DAY stock traded up $0.58 on Tuesday, reaching $58.98. The stock had a trading volume of 536,554 shares, compared to its average volume of 1,718,492. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $82.69. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 537.05, a P/E/G ratio of 2.49 and a beta of 1.17. The firm's 50-day moving average is $56.36 and its two-hundred day moving average is $66.87. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, research analysts expect that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Insider Buying and Selling at Dayforce

In related news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the sale, the executive vice president now directly owns 105,691 shares of the company's stock, valued at approximately $5,935,606.56. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Samer Alkharrat sold 1,916 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $56.64, for a total value of $108,522.24. Following the completion of the transaction, the executive vice president now directly owns 150,237 shares in the company, valued at approximately $8,509,423.68. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

DAY has been the topic of several analyst reports. Stifel Nicolaus cut their target price on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. KeyCorp decreased their target price on Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Scotiabank dropped their price target on Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Citigroup decreased their price objective on Dayforce from $78.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, TD Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating and lifted their price target for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.79.

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.