Cerity Partners LLC Raises Stake in Dayforce Inc (NYSE:DAY)

Cerity Partners LLC lifted its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 39.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,110 shares of the company's stock after purchasing an additional 7,992 shares during the quarter. Cerity Partners LLC's holdings in Dayforce were worth $1,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Dayforce by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company's stock valued at $85,446,000 after buying an additional 8,506 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Dayforce in the 3rd quarter valued at approximately $4,694,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Dayforce in the 3rd quarter valued at approximately $220,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Dayforce in the 3rd quarter worth approximately $217,000. Finally, Swiss National Bank grew its position in Dayforce by 7.1% during the 3rd quarter. Swiss National Bank now owns 468,600 shares of the company's stock worth $28,702,000 after purchasing an additional 31,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

DAY has been the subject of a number of research analyst reports. KeyCorp raised their price target on shares of Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Citigroup raised their target price on Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on Dayforce from $55.00 to $65.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Scotiabank began coverage on Dayforce in a research note on Monday, November 18th. They issued a "sector perform" rating and a $75.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Dayforce from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.77.

Insider Transactions at Dayforce

In related news, CEO David D. Ossip sold 858,697 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 794,527 shares of the company's stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the sale, the insider now owns 34,074 shares of the company's stock, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 865,340 shares of company stock valued at $68,770,223 in the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

Dayforce Stock Performance

DAY stock traded down $0.90 during midday trading on Tuesday, hitting $80.49. 1,076,030 shares of the stock traded hands, compared to its average volume of 1,718,254. 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 1.15 and a quick ratio of 1.15. The stock's fifty day simple moving average is $70.25 and its 200-day simple moving average is $59.73. The firm has a market cap of $12.69 billion, a P/E ratio of 243.92, a PEG ratio of 3.82 and a beta of 1.26.

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.