Raymond James Financial Inc. Invests $1.76 Million in Dayforce Inc (NYSE:DAY)

Raymond James Financial Inc. purchased a new stake in Dayforce Inc (NYSE:DAY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,286 shares of the company's stock, valued at approximately $1,764,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Dayforce in the fourth quarter valued at about $61,000. Federated Hermes Inc. bought a new stake in Dayforce in the 4th quarter valued at about $72,000. AlphaQuest LLC grew its position in shares of Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after purchasing an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its position 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 valued at $89,000 after buying an additional 501 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Dayforce by 52.1% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $213,000 after buying an additional 1,002 shares during the period.

Insiders Place Their Bets

In other news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the sale, the executive vice president now directly owns 105,691 shares of the company's stock, valued at $5,935,606.56. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samer Alkharrat sold 1,916 shares of the company's 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 completion of the sale, the executive vice president now owns 150,237 shares of the company's stock, valued at approximately $8,509,423.68. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company's stock.

Dayforce Trading Up 1.5 %

DAY opened at $58.71 on Friday. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 533.79, a PEG ratio of 2.49 and a beta of 1.20. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company's 50 day moving average price is $56.53 and its two-hundred day moving average price is $66.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.

Dayforce (NYSE:DAY - Get Free Report) last announced 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 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.

Analyst Ratings Changes

A number of equities analysts have commented on DAY shares. Scotiabank lowered their price objective on Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Barclays dropped their price target on Dayforce from $69.00 to $61.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Mizuho reduced their price objective on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. KeyCorp dropped their target price on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Dayforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.79.

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.

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