Raymond James Financial Inc. Purchases New Holdings in Dayforce Inc (NYSE:DAY)

Raymond James Financial Inc. acquired a new stake in Dayforce Inc (NYSE:DAY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 24,286 shares of the company's stock, valued at approximately $1,764,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. APG Asset Management N.V. lifted its stake in shares of Dayforce by 464.0% in the 4th quarter. APG Asset Management N.V. now owns 87,200 shares of the company's stock valued at $6,117,000 after purchasing an additional 71,739 shares during the period. Bank of Nova Scotia increased its stake in shares of Dayforce by 19.1% in the 4th quarter. Bank of Nova Scotia now owns 16,559 shares of the company's stock valued at $1,203,000 after acquiring an additional 2,659 shares during the last quarter. FMR LLC increased its stake in shares of Dayforce by 382.5% in the 4th quarter. FMR LLC now owns 3,215,123 shares of the company's stock valued at $233,547,000 after acquiring an additional 2,548,779 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Dayforce in the 4th quarter valued at approximately $72,000. Finally, Russell Investments Group Ltd. boosted its stake in Dayforce by 2.7% during the 4th quarter. Russell Investments Group Ltd. now owns 32,364 shares of the company's stock worth $2,350,000 after acquiring an additional 857 shares during the last quarter.

Dayforce Stock Down 6.3 %

DAY traded down $3.66 during trading on Wednesday, reaching $54.53. 4,824,931 shares of the stock were exchanged, compared to its average volume of 1,747,378. 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's 50 day moving average price is $56.14 and its two-hundred day moving average price is $66.72. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a market cap of $8.63 billion, a P/E ratio of 495.77, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17.

Dayforce (NYSE:DAY - Get Free Report) last issued 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 net margin of 1.03% and a return on equity of 6.49%. Equities analysts expect that Dayforce Inc will post 1.48 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DAY shares. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Mizuho decreased their price objective on Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company cut their price target on shares of Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. KeyCorp dropped their price objective on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dayforce currently has a consensus rating of "Moderate Buy" and an average price target of $73.79.

Insider Buying and Selling at Dayforce

In related 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 transaction of $112,320.00. Following the completion of the sale, the executive vice president now owns 105,691 shares of the company's stock, 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 SEC, which is accessible through the SEC website. Also, EVP Samer Alkharrat sold 1,916 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $8,509,423.68. This trade represents 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 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.