Machina Capital S.A.S. Acquires New Stake in Dayforce, Inc. (NYSE:DAY)

Key Points

• Machina Capital S.A.S. has invested $400,000 in Dayforce, acquiring 6,860 shares during the first quarter, indicating institutional interest in the company.
• Dayforce has attracted significant attention from other investors, with firms like Mather Group LLC increasing their holdings by 196.9% in the same quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Dayforce with an average target price of $70.86, reflecting positive market sentiment.

Machina Capital S.A.S. acquired a new stake in shares of Dayforce, Inc. (NYSE:DAY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,860 shares of the company's stock, valued at approximately $400,000.

Several other institutional investors have also added to or reduced their stakes in DAY. Raymond James Financial Inc. purchased a new stake in Dayforce during the fourth quarter valued at about $1,764,000. Commonwealth Equity Services LLC increased its position in shares of Dayforce by 18.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,058 shares of the company's stock valued at $803,000 after buying an additional 1,743 shares during the period. LPL Financial LLC increased its position in shares of Dayforce by 51.8% during the fourth quarter. LPL Financial LLC now owns 33,079 shares of the company's stock valued at $2,403,000 after buying an additional 11,292 shares during the period. Vanguard Group Inc. increased its position in shares of Dayforce by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company's stock valued at $1,258,072,000 after buying an additional 197,773 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Dayforce by 1.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 76,005 shares of the company's stock valued at $5,521,000 after buying an additional 998 shares during the period.

Dayforce Stock Up 0.9%

NYSE DAY traded up $0.52 during trading on Friday, hitting $59.93. The company's stock had a trading volume of 912,812 shares, compared to its average volume of 1,392,610. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69. The company has a market cap of $9.58 billion, a PE ratio of 374.59, a P/E/G ratio of 2.33 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.02 and a quick ratio of 1.02. The business's 50 day simple moving average is $57.67 and its 200-day simple moving average is $59.86.

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 2,059 shares of Dayforce stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction of $113,265.59. Following the completion of the sale, the executive vice president owned 103,684 shares of the company's stock, valued at $5,703,656.84. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total value of $110,020.00. Following the sale, the chief operating officer directly owned 190,811 shares of the company's stock, valued at $10,496,513.11. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,723 shares of company stock valued at $261,764 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DAY. Piper Sandler decreased their price target on Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Jefferies Financial Group reiterated a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. UBS Group increased their price target on shares of Dayforce from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Barclays cut their price target on shares of Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Finally, Mizuho dropped their target price on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.86.

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.