Bank of Montreal Can Has $10.49 Million Stake in Dayforce Inc (NYSE:DAY)

Bank of Montreal Can lessened its position in Dayforce Inc (NYSE:DAY - Free Report) by 98.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 144,351 shares of the company's stock after selling 10,542,495 shares during the period. Bank of Montreal Can owned approximately 0.09% of Dayforce worth $10,486,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Metis Global Partners LLC raised its position in Dayforce by 3.8% in the fourth quarter. Metis Global Partners LLC now owns 5,261 shares of the company's stock worth $382,000 after acquiring an additional 193 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Dayforce by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company's stock valued at $3,175,000 after purchasing an additional 277 shares during the last quarter. Xponance Inc. grew its position in Dayforce by 1.6% in the fourth quarter. Xponance Inc. now owns 22,494 shares of the company's stock worth $1,634,000 after buying an additional 357 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after acquiring an additional 501 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Dayforce by 11.0% during the 3rd quarter. HighTower Advisors LLC now owns 6,083 shares of the company's stock worth $368,000 after acquiring an additional 602 shares in the last quarter.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DAY shares. Cowen raised Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Mizuho dropped their target price on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday. Scotiabank decreased their price objective on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a research note on Monday, March 17th. TD Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating and boosted their target price for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Finally, Citigroup lowered their price target on Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dayforce has a consensus rating of "Moderate Buy" and a consensus price target of $76.79.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the completion of the sale, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by corporate insiders.

Dayforce Stock Performance

DAY traded down $0.39 on Tuesday, hitting $55.77. The company had a trading volume of 1,549,115 shares, compared to its average volume of 1,745,628. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The company's fifty day moving average price is $59.15 and its 200 day moving average price is $67.50. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 507.02, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20.

Dayforce (NYSE:DAY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. Equities analysts predict that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

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.