Capital International Investors Buys 667,065 Shares of Dayforce Inc (NYSE:DAY)

Capital International Investors grew its position in Dayforce Inc (NYSE:DAY - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,659,706 shares of the company's stock after purchasing an additional 667,065 shares during the period. Capital International Investors owned approximately 11.20% of Dayforce worth $1,282,800,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. HighTower Advisors LLC grew its holdings in Dayforce by 11.0% in the 3rd quarter. HighTower Advisors LLC now owns 6,083 shares of the company's stock worth $368,000 after buying an additional 602 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Dayforce by 16.0% during the third quarter. Stifel Financial Corp now owns 5,001 shares of the company's stock valued at $306,000 after purchasing an additional 691 shares during the period. Tidal Investments LLC raised its stake in shares of Dayforce by 85.6% during the third quarter. Tidal Investments LLC now owns 28,359 shares of the company's stock valued at $1,737,000 after purchasing an additional 13,078 shares in the last quarter. Retirement Systems of Alabama bought a new stake in shares of Dayforce during the third quarter valued at about $2,105,000. Finally, Principal Financial Group Inc. acquired a new stake in Dayforce in the third quarter worth about $11,135,000.

Dayforce Stock Up 3.9 %

Shares of DAY traded up $2.09 during mid-day trading on Wednesday, reaching $55.67. The company's stock had a trading volume of 832,294 shares, compared to its average volume of 1,747,594. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 506.14, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. The business has a fifty day moving average of $57.79 and a 200 day moving average of $67.16. 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 Inc has a 1 year low of $47.08 and a 1 year high of $82.69.

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

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $5,935,606.56. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays dropped their price target on shares of Dayforce from $69.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $80.00 target price (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. KeyCorp decreased their price target on Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday. TD Cowen raised Dayforce from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. Finally, Stifel Nicolaus decreased their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.86.

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.