Tidal Investments LLC Sells 12,761 Shares of Dayforce Inc (NYSE:DAY)

Tidal Investments LLC lowered its stake in shares of Dayforce Inc (NYSE:DAY - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,598 shares of the company's stock after selling 12,761 shares during the quarter. Tidal Investments LLC's holdings in Dayforce were worth $1,133,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DAY. Harvest Fund Management Co. Ltd purchased a new position in shares of Dayforce during the 4th quarter valued at approximately $61,000. Federated Hermes Inc. acquired a new position in Dayforce in the fourth quarter valued at about $72,000. AlphaQuest LLC lifted its position in Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after buying an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after acquiring an additional 501 shares during the period. Finally, Mufg Securities Americas Inc. purchased a new position in Dayforce during the 4th quarter valued at about $169,000.

Insider Buying and Selling at Dayforce

In other news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction dated 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 filing with the SEC, which is available at the SEC website. Also, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $56.64, for a total transaction of $108,522.24. Following the completion of the transaction, the executive vice president now directly owns 150,237 shares in the company, valued at approximately $8,509,423.68. This 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DAY shares. Stifel Nicolaus decreased their price objective on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Cowen raised Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Citigroup upped their target price on Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Barclays decreased their price objective on Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, Piper Sandler decreased their price objective on Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Dayforce has an average rating of "Moderate Buy" and a consensus price target of $71.54.

Dayforce Price Performance

Shares of DAY traded down $0.75 on Wednesday, hitting $57.68. The company's stock had a trading volume of 1,375,580 shares, compared to its average volume of 1,757,385. The company has a 50 day moving average price of $56.88 and a 200 day moving average price of $65.47. The company has a market capitalization of $9.22 billion, a PE ratio of 524.45, a PEG ratio of 2.49 and a beta of 1.17. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.

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.