TD Asset Management Inc reduced its stake in Dayforce, Inc. (NYSE:DAY - Free Report) by 70.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,600 shares of the company's stock after selling 104,618 shares during the period. TD Asset Management Inc's holdings in Dayforce were worth $2,602,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Mather Group LLC. raised its stake in Dayforce by 196.9% in the first quarter. Mather Group LLC. now owns 962 shares of the company's stock valued at $56,000 after buying an additional 638 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Dayforce in the fourth quarter valued at $72,000. Mufg Securities Americas Inc. purchased a new position in shares of Dayforce during the fourth quarter worth about $169,000. CX Institutional purchased a new position in shares of Dayforce during the first quarter worth about $190,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Dayforce by 38.6% during the first quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company's stock worth $214,000 after purchasing an additional 1,022 shares during the last quarter.
Dayforce Price Performance
Shares of NYSE:DAY traded down $2.37 during trading on Friday, hitting $55.30. 1,804,926 shares of the stock were exchanged, compared to its average volume of 1,338,244. The company has a fifty day moving average price of $57.65 and a two-hundred day moving average price of $59.43. The company has a market cap of $8.84 billion, a PE ratio of 345.65, a P/E/G ratio of 2.15 and a beta of 1.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69.
Insider Transactions at Dayforce
In related news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction of $110,020.00. Following the completion of the transaction, the chief operating officer directly owned 190,811 shares in the company, valued at $10,496,513.11. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William Everett Mcdonald sold 2,059 shares of Dayforce stock in a transaction that occurred 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 transaction, the executive vice president owned 103,684 shares of the company's stock, valued at $5,703,656.84. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,382 shares of company stock valued at $539,860 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
DAY has been the topic of several research reports. Wells Fargo & Company lowered Dayforce from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $60.00 to $50.00 in a report on Friday, June 13th. Barclays dropped their price target on Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Citigroup lifted their price objective on Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Dayforce in a report on Monday, June 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Dayforce in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.86.
View Our Latest Stock Report on DAY
About Dayforce
(
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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