Man Group plc Trims Stock Position in Dayforce Inc (NYSE:DAY)

Man Group plc decreased its stake in shares of Dayforce Inc (NYSE:DAY - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent disclosure with the 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 about 0.10% of Dayforce worth $11,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Dayforce in the 4th quarter valued at approximately $61,000. Federated Hermes Inc. acquired a new position in Dayforce in the fourth quarter valued at approximately $72,000. AlphaQuest LLC grew 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 grew 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, Orion Portfolio Solutions LLC acquired a new position in shares of Dayforce in the 4th quarter valued at $217,000.

Dayforce Stock Performance

Shares of DAY traded up $0.78 during midday trading on Thursday, reaching $58.33. 1,257,152 shares of the stock were exchanged, compared to its average volume of 1,762,395. Dayforce Inc has a twelve month low of $47.08 and a twelve month 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. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 530.32, a PEG ratio of 2.49 and a beta of 1.17. The business's 50-day moving average price is $56.84 and its 200 day moving average price is $66.15.

Wall Street Analyst Weigh In

Several equities analysts have commented on DAY shares. Mizuho dropped their price target 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. Piper Sandler decreased their price target 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. Citigroup increased their price objective on shares of Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Barclays reduced their price objective 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, Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.54.

Insider Buying and Selling

In other news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the transaction, the executive vice president now directly owns 105,691 shares of the company's stock, valued at $5,935,606.56. The trade was a 1.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samer Alkharrat sold 1,916 shares of the company's 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 sale, the executive vice president now 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 disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

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.