Ethic Inc. Cuts Stock Holdings in Dayforce Inc (NYSE:DAY)

Ethic Inc. lowered its stake in Dayforce Inc (NYSE:DAY - Free Report) by 37.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,223 shares of the company's stock after selling 4,997 shares during the period. Ethic Inc.'s holdings in Dayforce were worth $597,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in Dayforce in the 4th quarter valued at $61,000. Federated Hermes Inc. bought a new position in Dayforce during the 4th quarter valued at about $72,000. AlphaQuest LLC grew its holdings in Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after purchasing an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after buying an additional 501 shares during the period. Finally, Orion Portfolio Solutions LLC purchased a new stake in Dayforce in the 4th quarter valued at about $217,000.

Wall Street Analyst Weigh In

DAY has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Dayforce from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets increased their price objective on shares of Dayforce from $64.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. KeyCorp dropped their price target on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Barclays dropped their price target on shares of Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, TD Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating and lifted their target price for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Five research 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 has a consensus rating of "Moderate Buy" and a consensus price target of $71.54.

Insider Activity

In related news, EVP Samer Alkharrat sold 1,916 shares of the business's 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 directly owns 150,237 shares of the company's stock, valued at approximately $8,509,423.68. The trade was a 1.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value 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 approximately $5,935,606.56. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Dayforce Stock Performance

DAY stock traded down $0.52 during midday trading on Monday, hitting $59.53. The stock had a trading volume of 1,268,072 shares, compared to its average volume of 1,764,765. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 541.23, a P/E/G ratio of 2.49 and a beta of 1.17. The stock has a 50-day simple moving average of $56.54 and a 200 day simple moving average of $66.37. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

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.