CIBC Asset Management Inc Buys New Shares in Dayforce Inc (NYSE:DAY)

CIBC Asset Management Inc acquired a new stake in Dayforce Inc (NYSE:DAY - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 23,411 shares of the company's stock, valued at approximately $1,434,000.

Several other hedge funds have also recently bought and sold shares of the stock. Quent Capital LLC acquired a new stake in shares of Dayforce in the 3rd quarter valued at $28,000. Financial Perspectives Inc bought a new stake in shares of Dayforce during the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC acquired a new stake in Dayforce in the third quarter valued at $40,000. Sentry Investment Management LLC bought a new position in Dayforce during the second quarter worth about $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Dayforce during the third quarter worth approximately $74,000.

Dayforce Stock Performance

NYSE DAY opened at $75.91 on Thursday. The company's 50 day moving average is $66.51 and its 200-day moving average is $58.52. The firm has a market cap of $11.97 billion, a P/E ratio of 230.04, a price-to-earnings-growth ratio of 3.51 and a beta of 1.27. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $81.32.

Analyst Ratings Changes

DAY has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Dayforce from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. BMO Capital Markets increased their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Scotiabank began coverage on shares of Dayforce in a report on Monday. They set a "sector perform" rating and a $75.00 target price for the company. Barclays increased their price target on shares of Dayforce from $70.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Finally, Piper Sandler restated an "overweight" rating and set a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.77.

Insider Transactions at Dayforce

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the firm's stock in a transaction dated 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 $2,159,269.38. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $65.00, for a total value of $65,000.00. Following the transaction, the chief operating officer now directly owns 100,437 shares of the company's stock, valued at $6,528,405. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,643 shares of company stock valued at $460,877. 4.90% of the stock is currently owned by corporate insiders.

Dayforce 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.