Select Equity Group L.P. Has $828.15 Million Stock Position in Dayforce Inc (NYSE:DAY)

Select Equity Group L.P. decreased its holdings in shares of Dayforce Inc (NYSE:DAY - Free Report) by 19.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,400,740 shares of the company's stock after selling 2,745,916 shares during the period. Dayforce makes up about 3.3% of Select Equity Group L.P.'s holdings, making the stock its 6th biggest position. Select Equity Group L.P. owned approximately 7.23% of Dayforce worth $828,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in Dayforce in the 4th quarter valued at approximately $61,000. Federated Hermes Inc. purchased a new position in Dayforce in the 4th quarter valued at approximately $72,000. AlphaQuest LLC increased its stake in 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 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 in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in Dayforce in the 4th quarter valued at approximately $169,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BMO Capital Markets increased their target price on Dayforce from $64.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Jefferies Financial Group lowered their target price on Dayforce from $80.00 to $75.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. TD Cowen upgraded Dayforce from a "hold" rating to a "buy" rating and increased their target price for the company from $67.00 to $68.00 in a report on Friday, March 7th. Citigroup increased their price target on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $95.00 price target on shares of Dayforce in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $71.54.

Dayforce Stock Down 1.2%

NYSE:DAY traded down $0.69 during mid-day trading on Tuesday, hitting $58.85. The company had a trading volume of 1,108,150 shares, compared to its average volume of 1,763,741. The business has a fifty day simple moving average of $56.66 and a 200-day simple moving average of $66.26. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 535.05, a PEG ratio of 2.49 and a beta of 1.17. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In other news, EVP Samer Alkharrat sold 1,916 shares of Dayforce stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the sale, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

About Dayforce

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.