Dayforce Inc (NYSE:DAY) Shares Acquired by Comerica Bank

Comerica Bank increased its stake in shares of Dayforce Inc (NYSE:DAY - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,065 shares of the company's stock after acquiring an additional 9,042 shares during the period. Comerica Bank's holdings in Dayforce were worth $5,380,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, EVP Samer Alkharrat sold 1,916 shares of Dayforce stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the transaction, the executive vice president now owns 150,237 shares in the company, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $112,320.00. Following the transaction, the executive vice president now owns 105,691 shares in the company, valued at approximately $5,935,606.56. The trade was a 1.86% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their price target on Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler lowered their price target on Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday. BMO Capital Markets increased their price target on Dayforce from $64.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday. Mizuho lowered their price target on Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Barclays lowered their price target on Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.29.

Dayforce Price Performance

Shares of NYSE DAY traded down $1.57 during midday trading on Friday, hitting $56.76. The stock had a trading volume of 2,943,663 shares, compared to its average volume of 1,764,304. The company has a market capitalization of $8.98 billion, a PE ratio of 516.05, a P/E/G ratio of 2.49 and a beta of 1.17. The stock has a 50 day simple moving average of $56.11 and a 200-day simple moving average of $66.64. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. 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 earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share 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, sell-side analysts expect that Dayforce Inc will post 1.48 EPS for the current fiscal year.

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.