Twinbeech Capital LP Takes $13.27 Million Position in Dayforce Inc (NYSE:DAY)

Twinbeech Capital LP acquired a new stake in Dayforce Inc (NYSE:DAY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 182,714 shares of the company's stock, valued at approximately $13,272,000. Twinbeech Capital LP owned 0.12% of Dayforce as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Dayforce in the 4th quarter valued at about $61,000. Federated Hermes Inc. purchased a new position in shares of Dayforce in the 4th quarter valued at about $72,000. AlphaQuest LLC raised its position in shares of Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after acquiring an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after acquiring an additional 501 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of Dayforce during the 4th quarter worth about $169,000.

Wall Street Analysts Forecast Growth

DAY has been the topic of several research analyst reports. Cowen raised Dayforce from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Wells Fargo & Company cut their target price on Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. BMO Capital Markets raised their target price on Dayforce from $64.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $95.00 target price on shares of Dayforce in a research report on Thursday, May 8th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Dayforce currently has a consensus rating of "Moderate Buy" and an average price target of $71.54.

Dayforce Trading Down 0.9%

DAY opened at $59.53 on Tuesday. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 541.23, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The business's 50 day moving average is $56.66 and its two-hundred day moving average is $66.26. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In other news, EVP Samer Alkharrat sold 1,916 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $56.64, for a total value of $108,522.24. Following the transaction, the executive vice president now owns 150,237 shares of the company's stock, valued at approximately $8,509,423.68. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 105,691 shares in the company, valued at approximately $5,935,606.56. The trade was a 1.86% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate 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.

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