First Trust Advisors LP Buys Shares of 167,965 Dayforce Inc (NYSE:DAY)

First Trust Advisors LP acquired a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 167,965 shares of the company's stock, valued at approximately $12,201,000. First Trust Advisors LP owned 0.11% of Dayforce as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of Dayforce during the 4th quarter worth about $61,000. Federated Hermes Inc. acquired a new stake in Dayforce during the 4th quarter worth $72,000. AlphaQuest LLC grew its stake in Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after acquiring an additional 1,036 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 501 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Dayforce by 52.1% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $213,000 after purchasing an additional 1,002 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DAY shares. TD Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating and lifted their price target for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Stifel Nicolaus cut their price target on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Barclays dropped their target price on Dayforce from $69.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group decreased their price target on shares of Dayforce from $80.00 to $75.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Finally, Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.79.

Dayforce Stock Performance

NYSE:DAY traded up $1.42 during mid-day trading on Friday, hitting $60.04. The stock had a trading volume of 408,649 shares, compared to its average volume of 1,726,405. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. 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 stock has a market cap of $9.50 billion, a price-to-earnings ratio of 545.49, a PEG ratio of 2.49 and a beta of 1.20. The company's 50 day simple moving average is $56.53 and its 200 day simple moving average is $66.91.

Dayforce (NYSE:DAY - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. On average, equities research analysts forecast that Dayforce Inc will post 1.48 earnings per share for the current year.

Insider Transactions at Dayforce

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the transaction, the executive vice president now owns 150,237 shares in the company, valued at $8,509,423.68. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the company's 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 transaction, the executive vice president now owns 105,691 shares in the company, valued at $5,935,606.56. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Dayforce Company 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.