Twinbeech Capital LP Acquires Shares of 182,714 Dayforce Inc (NYSE:DAY)

Twinbeech Capital LP acquired a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 182,714 shares of the company's stock, valued at approximately $13,272,000. Twinbeech Capital LP owned approximately 0.12% of Dayforce at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital International Investors grew its position in Dayforce by 3.9% in the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company's stock valued at $1,282,800,000 after acquiring an additional 667,065 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 purchasing an additional 197,773 shares in the last quarter. Capital World Investors boosted its position in Dayforce by 1.0% during the fourth quarter. Capital World Investors now owns 13,654,333 shares of the company's stock valued at $991,851,000 after purchasing an additional 128,578 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Dayforce by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 3,839,645 shares of the company's stock worth $278,193,000 after acquiring an additional 57,621 shares in the last quarter. Finally, FMR LLC boosted its holdings in Dayforce by 382.5% in the fourth quarter. FMR LLC now owns 3,215,123 shares of the company's stock worth $233,547,000 after acquiring an additional 2,548,779 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DAY shares. Stifel Nicolaus reduced their price objective on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Needham & Company LLC reiterated a "buy" rating and set a $95.00 price target on shares of Dayforce in a research report on Thursday, May 8th. 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. Piper Sandler reduced their price target on Dayforce from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays cut their price objective on Dayforce from $61.00 to $60.00 and set an "equal weight" rating for the company 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 company's stock. According to MarketBeat, Dayforce has an average rating of "Moderate Buy" and an average target price of $71.54.

Insiders Place Their Bets

In other news, EVP William Everett Mcdonald sold 2,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Samer Alkharrat sold 1,916 shares of the firm's stock in a transaction that occurred 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 directly owns 150,237 shares in the company, 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 corporate insiders.

Dayforce Trading Down 1.9%

NYSE DAY traded down $1.13 on Friday, reaching $57.22. 1,059,142 shares of the company were exchanged, compared to its average volume of 1,759,802. The business's fifty day moving average price is $56.87 and its 200 day moving average price is $65.79. The stock has a market capitalization of $9.15 billion, a P/E ratio of 520.27, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69.

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.