Dayforce Inc (NYSE:DAY) Shares Sold by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. reduced its position in shares of Dayforce Inc (NYSE:DAY - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,941,696 shares of the company's stock after selling 1,682,409 shares during the period. Dayforce accounts for about 5.1% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 6th largest holding. EdgePoint Investment Group Inc. owned 5.67% of Dayforce worth $649,525,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DAY. Harvest Fund Management Co. Ltd acquired a new position in shares of Dayforce during the 4th quarter worth approximately $61,000. Federated Hermes Inc. acquired a new position in Dayforce during the fourth quarter worth $72,000. AlphaQuest LLC grew its holdings in 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 buying an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 worth $89,000 after acquiring an additional 501 shares during the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Dayforce during the 4th quarter worth $217,000.

Dayforce Price Performance

Shares of Dayforce stock traded up $0.26 on Wednesday, hitting $59.52. The company had a trading volume of 1,256,458 shares, compared to its average volume of 1,761,342. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The business has a 50-day simple moving average of $56.25 and a 200-day simple moving average of $66.56. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a market cap of $9.52 billion, a PE ratio of 541.14, a PEG ratio of 2.49 and a beta of 1.17.

Analyst Ratings Changes

DAY has been the subject of a number of recent analyst reports. Scotiabank cut their price target on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Mizuho cut their target price on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. TD Cowen raised Dayforce from a "hold" rating to a "buy" rating and increased their price target for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Wells Fargo & Company dropped their target price on Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Piper Sandler cut their price objective on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.29.

Insiders Place Their Bets

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

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.