Weiss Asset Management LP Buys Shares of 24,707 Dayforce Inc (NYSE:DAY)

Weiss Asset Management LP acquired a new stake in Dayforce Inc (NYSE:DAY - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 24,707 shares of the company's stock, valued at approximately $1,513,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DAY. Bleakley Financial Group LLC increased its position in shares of Dayforce by 9.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company's stock worth $298,000 after purchasing an additional 439 shares during the last quarter. Quent Capital LLC acquired a new position in Dayforce during the third quarter worth $28,000. Financial Perspectives Inc bought a new stake in Dayforce during the second quarter worth $28,000. HighTower Advisors LLC lifted its stake in Dayforce by 11.0% in the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company's stock valued at $368,000 after acquiring an additional 602 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Dayforce by 1.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company's stock valued at $3,448,000 after acquiring an additional 640 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DAY shares. Citigroup raised their target price on shares of Dayforce from $75.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price objective on Dayforce from $55.00 to $65.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Mizuho boosted their target price on Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Needham & Company LLC increased their price target on Dayforce from $82.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets lifted their price objective on shares of Dayforce from $80.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $79.08.

Dayforce Price Performance

Shares of NYSE DAY traded up $1.35 during midday trading on Friday, reaching $78.56. The company's stock had a trading volume of 1,225,134 shares, compared to its average volume of 1,625,355. The company has a market cap of $12.39 billion, a P/E ratio of 238.07, a P/E/G ratio of 3.79 and a beta of 1.26. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week 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 1.15. The business's 50 day moving average price is $71.43 and its two-hundred day moving average price is $60.10.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the transaction, the chief operating officer now directly owns 101,437 shares in the company, valued at $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the sale, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,340 shares of company stock valued at $68,770,223 in the last three months. Corporate insiders own 4.90% of the company's stock.

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.