LPL Financial LLC raised its position in Dayforce, Inc. (NYSE:DAY - Free Report) by 83.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,716 shares of the company's stock after acquiring an additional 27,637 shares during the quarter. LPL Financial LLC's holdings in Dayforce were worth $3,542,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of DAY. Capital International Investors lifted its holdings in Dayforce by 3.9% in the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company's stock valued at $1,282,800,000 after acquiring an additional 667,065 shares during the period. Northern Trust Corp lifted its holdings in Dayforce by 21.5% in the fourth quarter. Northern Trust Corp now owns 1,544,475 shares of the company's stock valued at $112,191,000 after acquiring an additional 273,031 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Dayforce by 23.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,207,045 shares of the company's stock valued at $87,680,000 after acquiring an additional 226,353 shares during the period. Woodline Partners LP lifted its holdings in Dayforce by 53.1% in the fourth quarter. Woodline Partners LP now owns 634,345 shares of the company's stock valued at $46,079,000 after acquiring an additional 220,112 shares during the period. Finally, Twinbeech Capital LP bought a new position in Dayforce in the fourth quarter valued at about $13,272,000.
Wall Street Analysts Forecast Growth
DAY has been the topic of several recent research reports. Citigroup raised their price objective on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company downgraded Dayforce from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $60.00 to $50.00 in a research note on Friday, June 13th. 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. Jefferies Financial Group reaffirmed a "hold" rating on shares of Dayforce in a research note on Friday, May 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Dayforce in a research note on Monday, June 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.93.
Check Out Our Latest Analysis on Dayforce
Dayforce Price Performance
DAY opened at $52.92 on Friday. The business has a fifty day moving average of $56.45 and a 200 day moving average of $58.27. Dayforce, Inc. has a 52-week low of $48.01 and a 52-week high of $82.69. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a market cap of $8.45 billion, a P/E ratio of 176.41, a PEG ratio of 2.00 and a beta of 1.11.
Dayforce (NYSE:DAY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.09. The business had revenue of $464.70 million during the quarter, compared to analyst estimates of $457.83 million. Dayforce had a return on equity of 7.37% and a net margin of 2.65%. Dayforce's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. As a group, sell-side analysts anticipate that Dayforce, Inc. will post 1.48 EPS for the current year.
Insider Transactions at Dayforce
In other news, EVP William Everett Mcdonald sold 2,059 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total value of $113,265.59. Following the completion of the transaction, the executive vice president directly owned 103,684 shares of the company's stock, valued at approximately $5,703,656.84. The trade was a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samer Alkharrat sold 4,659 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $59.69, for a total value of $278,095.71. Following the completion of the transaction, the executive vice president directly owned 127,632 shares of the company's stock, valued at approximately $7,618,354.08. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,382 shares of company stock valued at $539,860. Corporate insiders own 4.50% of the company's stock.
Dayforce Company Profile
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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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