Bank of Montreal Can Sells 10,542,495 Shares of Dayforce Inc (NYSE:DAY)

Bank of Montreal Can trimmed its holdings in shares of Dayforce Inc (NYSE:DAY - Free Report) by 98.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,351 shares of the company's stock after selling 10,542,495 shares during the quarter. Bank of Montreal Can owned 0.09% of Dayforce worth $10,486,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in Dayforce during the 4th quarter worth $61,000. Federated Hermes Inc. acquired a new position in shares of Dayforce in the fourth quarter worth approximately $72,000. AlphaQuest LLC boosted its holdings in Dayforce by 14,800.0% in the fourth 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 increased its position in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after purchasing an additional 501 shares during the period. Finally, National Bank of Canada FI bought a new position in Dayforce during the 3rd quarter worth approximately $179,000.

Dayforce Stock Down 1.5 %

DAY traded down $0.84 during midday trading on Friday, reaching $54.16. 1,549,927 shares of the company were exchanged, compared to its average volume of 1,744,751. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 492.38, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. The company's fifty day moving average price is $58.52 and its 200 day moving average price is $67.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

Dayforce (NYSE:DAY - Get Free Report) last announced its quarterly earnings results 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 return on equity of 6.49% and a net margin of 1.03%. As a group, analysts expect that Dayforce Inc will post 1.48 EPS for the current year.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the transaction, the executive vice president now directly owns 105,691 shares of the company's stock, valued at $5,935,606.56. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DAY. Stifel Nicolaus reduced their price objective on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. TD Cowen upgraded Dayforce from a "hold" rating to a "buy" rating and increased their price target for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Citigroup dropped their price objective on Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $95.00 price target on shares of Dayforce in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $76.79.

About Dayforce

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.