Man Group plc Has $11.14 Million Position in Dayforce Inc (NYSE:DAY)

Man Group plc reduced its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 43.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 153,375 shares of the company's stock after selling 119,172 shares during the quarter. Man Group plc owned 0.10% of Dayforce worth $11,141,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DAY. Principal Financial Group Inc. bought a new position in shares of Dayforce during the third quarter worth about $11,135,000. Smartleaf Asset Management LLC grew its holdings in shares of Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after buying an additional 501 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Dayforce by 167.7% during the fourth quarter. SG Americas Securities LLC now owns 19,322 shares of the company's stock worth $1,404,000 after buying an additional 12,103 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Dayforce by 31.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company's stock worth $1,398,000 after buying an additional 4,596 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Dayforce during the fourth quarter worth about $1,314,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. KeyCorp decreased their price objective on Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Mizuho decreased their price objective on Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. BMO Capital Markets increased their price objective on Dayforce from $64.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Scotiabank reduced their price target on Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $71.54.

Dayforce Stock Performance

Shares of DAY traded down $1.13 during mid-day trading on Friday, reaching $57.22. The company's stock had a trading volume of 1,059,142 shares, compared to its average volume of 1,759,802. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The stock has a market cap of $9.15 billion, a P/E ratio of 520.27, a PEG ratio of 2.49 and a beta of 1.17. The business has a 50-day simple moving average of $56.87 and a two-hundred day simple moving average of $65.79. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity

In related news, EVP Samer Alkharrat sold 1,916 shares of Dayforce 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 completion of the sale, the executive vice president now directly owns 150,237 shares of the company's stock, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the sale, the executive vice president now directly owns 105,691 shares of the company's stock, valued at approximately $5,935,606.56. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company's stock.

Dayforce 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.