Hsbc Holdings PLC Buys 38,186 Shares of Dayforce Inc (NYSE:DAY)

Hsbc Holdings PLC lifted its holdings in shares of Dayforce Inc (NYSE:DAY - Free Report) by 19.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 232,724 shares of the company's stock after purchasing an additional 38,186 shares during the period. Hsbc Holdings PLC owned 0.15% of Dayforce worth $16,921,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. bought a new stake in Dayforce during the 3rd quarter worth about $11,135,000. Smartleaf Asset Management LLC grew its stake in shares of Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after purchasing an additional 501 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in shares of Dayforce in the third quarter valued at approximately $2,105,000. SG Americas Securities LLC raised its position in Dayforce by 167.7% in the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company's stock worth $1,404,000 after purchasing an additional 12,103 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Dayforce by 31.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company's stock worth $1,398,000 after buying an additional 4,596 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DAY shares. Scotiabank dropped their target price 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. Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Mizuho dropped their price target on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $95.00 target price on shares of Dayforce in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $73.79.

Dayforce Stock Performance

Shares of NYSE DAY traded up $0.84 during mid-day trading on Thursday, reaching $58.71. 1,266,754 shares of the company were exchanged, compared to its average volume of 1,744,608. The company's 50-day simple moving average is $56.64 and its 200-day simple moving average is $66.94. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $9.29 billion, a P/E ratio of 533.79, a P/E/G ratio of 2.49 and a beta of 1.20. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69.

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

Insiders Place Their Bets

In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 150,237 shares of the company's stock, valued at $8,509,423.68. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company's stock.

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.