Lansforsakringar Fondforvaltning AB publ Buys Shares of 50,658 Dayforce Inc (NYSE:DAY)

Lansforsakringar Fondforvaltning AB publ purchased a new position in Dayforce Inc (NYSE:DAY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 50,658 shares of the company's stock, valued at approximately $3,680,000.

Other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in Dayforce in the fourth quarter worth approximately $61,000. Federated Hermes Inc. bought a new position in Dayforce in the fourth quarter worth approximately $72,000. AlphaQuest LLC raised its position in Dayforce by 14,800.0% in 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 raised its position in Dayforce by 69.0% in 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, Mufg Securities Americas Inc. bought a new position in Dayforce in the fourth quarter worth approximately $169,000.

Dayforce Price Performance

DAY traded up $1.37 during trading on Friday, hitting $59.07. 11,998,451 shares of the company traded hands, compared to its average volume of 1,789,360. The company has a market cap of $9.44 billion, a PE ratio of 537.05, a P/E/G ratio of 2.49 and a beta of 1.17. The stock's 50-day simple moving average is $56.79 and its two-hundred day simple moving average is $65.13. Dayforce Inc has a 1 year low of $47.08 and a 1 year 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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DAY. Wells Fargo & Company decreased their price target on shares of Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. KeyCorp reduced their price objective on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler reduced their price objective on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Mizuho reduced their price objective on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $95.00 price objective on shares of Dayforce in a research note on Thursday, May 8th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $71.54.

Insider Activity at Dayforce

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction on 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 owns 150,237 shares in the company, valued at $8,509,423.68. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William Everett Mcdonald sold 2,000 shares of the firm's 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. This trade represents 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 corporate insiders.

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.