Woodline Partners LP Increases Stock Holdings in Dayforce Inc (NYSE:DAY)

Woodline Partners LP increased its position in Dayforce Inc (NYSE:DAY - Free Report) by 53.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 634,345 shares of the company's stock after acquiring an additional 220,112 shares during the quarter. Woodline Partners LP owned about 0.40% of Dayforce worth $46,079,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Dayforce in the 4th quarter valued at $61,000. Federated Hermes Inc. bought a new position in shares of Dayforce in the fourth quarter worth $72,000. AlphaQuest LLC raised its position in shares of 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 buying an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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 buying an additional 501 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in Dayforce during the fourth quarter valued at $169,000.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the sale, the executive vice president now directly owns 105,691 shares in the company, valued at approximately $5,935,606.56. This represents a 1.86% 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 Samer Alkharrat sold 1,916 shares of the company'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 value of $108,522.24. Following the transaction, the executive vice president now directly owns 150,237 shares of the company's stock, valued at $8,509,423.68. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.50% of the company's stock.

Analyst Ratings Changes

DAY has been the topic of a number of research analyst reports. Scotiabank decreased their target price on Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Jefferies Financial Group cut their price objective on Dayforce from $80.00 to $75.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Piper Sandler decreased their price objective on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Citigroup lifted their target price 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. Finally, Barclays cut their price target on shares of Dayforce from $61.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $71.54.

Dayforce Price Performance

Shares of Dayforce stock opened at $59.53 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a fifty day moving average of $56.66 and a 200-day moving average of $66.26. The stock has a market capitalization 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 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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