Mariner LLC Sells 57,970 Shares of Dayforce Inc (NYSE:DAY)

Mariner LLC decreased its stake in Dayforce Inc (NYSE:DAY - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 161,933 shares of the company's stock after selling 57,970 shares during the period. Mariner LLC owned 0.10% of Dayforce worth $11,762,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAY. FMR LLC raised its position in shares of Dayforce by 382.5% in the fourth quarter. FMR LLC now owns 3,215,123 shares of the company's stock valued at $233,547,000 after purchasing an additional 2,548,779 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Dayforce by 18,250.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company's stock worth $47,890,000 after acquiring an additional 657,013 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Dayforce by 189.0% in the fourth quarter. California Public Employees Retirement System now owns 567,561 shares of the company's stock worth $41,228,000 after acquiring an additional 371,153 shares during the period. Vanguard Group Inc. grew its position in shares of Dayforce by 1.2% in 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. Finally, Principal Financial Group Inc. purchased a new stake in Dayforce during the 3rd quarter worth about $11,135,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler reiterated an "overweight" rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th. Jefferies Financial Group cut their price target on shares of Dayforce from $80.00 to $75.00 and set a "hold" rating for the company in a report on Thursday, February 6th. KeyCorp decreased their price target on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Cowen raised Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.86.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the firm'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 transaction, the executive vice president now owns 105,691 shares in the company, valued at approximately $5,935,606.56. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Dayforce Price Performance

DAY traded up $2.80 during midday trading on Wednesday, hitting $56.38. The stock had a trading volume of 625,175 shares, compared to its average volume of 1,746,770. The company has a market cap of $8.92 billion, a P/E ratio of 512.59, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The business has a fifty day moving average of $57.79 and a 200 day moving average of $67.16. 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 (NYSE:DAY - Get Free Report) last released 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 net margin of 1.03% and a return on equity of 6.49%. As a group, equities analysts forecast that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

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.