Northern Trust Corp Buys 273,031 Shares of Dayforce Inc (NYSE:DAY)

Northern Trust Corp raised its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,544,475 shares of the company's stock after purchasing an additional 273,031 shares during the period. Northern Trust Corp owned approximately 0.98% of Dayforce worth $112,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Dayforce in the 4th quarter valued at approximately $61,000. Federated Hermes Inc. bought a new stake in Dayforce during the fourth quarter worth $72,000. AlphaQuest LLC boosted 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 purchasing an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 501 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Dayforce by 52.1% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $213,000 after buying an additional 1,002 shares during the last quarter.

Dayforce Stock Down 1.2 %

DAY traded down $0.70 during midday trading on Friday, reaching $57.63. 771,391 shares of the company were exchanged, compared to its average volume of 1,753,561. Dayforce Inc has a one year low of $47.08 and a one year 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 company's fifty day moving average price is $56.12 and its 200 day moving average price is $66.67. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 523.96, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17.

Dayforce (NYSE:DAY - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates 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, analysts expect that Dayforce Inc will post 1.48 EPS for the current year.

Insider Activity at Dayforce

In other news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $108,522.24. Following the sale, the executive vice president now owns 150,237 shares in the company, valued at approximately $8,509,423.68. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Dayforce from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Citigroup raised 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. Needham & Company LLC reiterated a "buy" rating and set a $95.00 price target on shares of Dayforce in a report on Thursday. Stifel Nicolaus cut their price objective on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Scotiabank lowered their target price on Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Six 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.29.

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.