Woodline Partners LP Buys 220,112 Shares of Dayforce Inc (NYSE:DAY)

Woodline Partners LP raised its position in Dayforce Inc (NYSE:DAY - Free Report) by 53.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 634,345 shares of the company's stock after purchasing an additional 220,112 shares during the quarter. Woodline Partners LP owned 0.40% of Dayforce worth $46,079,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus decreased their price objective on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on Dayforce from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Mizuho decreased their price objective on Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets raised their price objective on Dayforce from $64.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group decreased 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $71.54.

Insiders Place Their Bets

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the business'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 transaction, the executive vice president now directly owns 150,237 shares in the company, valued at $8,509,423.68. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William Everett Mcdonald sold 2,000 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the sale, 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. Company insiders own 4.50% of the company's stock.

Dayforce Stock Performance

Dayforce stock traded down $1.13 during midday trading on Friday, reaching $57.22. 1,059,142 shares of the company's stock were exchanged, compared to its average volume of 1,759,802. The stock's 50-day simple moving average is $56.87 and its 200 day simple moving average is $65.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 520.27, a P/E/G 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.

About Dayforce

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.