Dragoneer Investment Group LLC lessened its position in Dayforce Inc (NYSE:DAY - Free Report) by 49.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,860,525 shares of the company's stock after selling 3,758,749 shares during the period. Dayforce makes up about 4.9% of Dragoneer Investment Group LLC's holdings, making the stock its 9th largest position. Dragoneer Investment Group LLC owned 2.45% of Dayforce worth $280,429,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Metis Global Partners LLC lifted its holdings in shares of Dayforce by 3.8% in the fourth quarter. Metis Global Partners LLC now owns 5,261 shares of the company's stock valued at $382,000 after purchasing an additional 193 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Dayforce by 4.1% in the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock valued at $378,000 after purchasing an additional 205 shares in the last quarter. United Capital Financial Advisors LLC lifted its holdings in shares of Dayforce by 3.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 6,740 shares of the company's stock valued at $490,000 after purchasing an additional 228 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Dayforce by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company's stock valued at $3,175,000 after purchasing an additional 277 shares in the last quarter. Finally, Utah Retirement Systems lifted its holdings in shares of Dayforce by 1.2% in the fourth quarter. Utah Retirement Systems now owns 24,923 shares of the company's stock valued at $1,810,000 after purchasing an additional 300 shares in the last quarter.
Insiders Place Their Bets
In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction dated 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 owns 105,691 shares of the company's stock, valued at $5,935,606.56. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samer Alkharrat sold 1,916 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 150,237 shares of the company's stock, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company's stock.
Dayforce Price Performance
Dayforce stock traded up $2.26 during midday trading on Monday, hitting $58.97. 978,373 shares of the company's stock were exchanged, compared to its average volume of 1,761,255. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The stock has a 50-day moving average price of $56.11 and a two-hundred day moving average price of $66.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The company has a market cap of $9.33 billion, a P/E ratio of 535.95, a PEG ratio of 2.49 and a beta of 1.17.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on DAY shares. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Stifel Nicolaus dropped their price target on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Mizuho dropped their price target on Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Barclays dropped their price target on Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Piper Sandler dropped their price target on Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $71.29.
Check Out Our Latest Research Report on Dayforce
About Dayforce
(
Free Report)
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.
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