Fmr LLC Buys 2,548,779 Shares of Dayforce Inc (NYSE:DAY)

FMR LLC lifted its position in Dayforce Inc (NYSE:DAY - Free Report) by 382.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,215,123 shares of the company's stock after purchasing an additional 2,548,779 shares during the quarter. FMR LLC owned about 2.04% of Dayforce worth $233,547,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in Dayforce in the 3rd quarter worth approximately $11,135,000. Smartleaf Asset Management LLC increased its position in Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after purchasing an additional 501 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in Dayforce during the third quarter valued at $2,105,000. SG Americas Securities LLC lifted its position in Dayforce by 167.7% during the fourth quarter. SG Americas Securities LLC now owns 19,322 shares of the company's stock valued at $1,404,000 after purchasing an additional 12,103 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Dayforce by 31.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company's stock worth $1,398,000 after buying an additional 4,596 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DAY shares. Scotiabank decreased their target price on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Needham & Company LLC restated a "buy" rating and set a $95.00 price objective on shares of Dayforce in a research report on Thursday, February 6th. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. TD Cowen upgraded Dayforce from a "hold" rating to a "buy" rating and increased their price target for the company from $67.00 to $68.00 in a report on Friday, March 7th. Finally, Barclays dropped their price objective on shares of Dayforce from $80.00 to $69.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Six research 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, the company presently has an average rating of "Moderate Buy" and an average price target of $76.79.

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Dayforce Trading Down 0.7 %

Shares of Dayforce stock traded down $0.39 on Tuesday, hitting $55.77. 1,549,115 shares of the company traded hands, compared to its average volume of 1,743,224. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a market cap of $8.83 billion, a PE ratio of 507.02, a PEG ratio of 2.49 and a beta of 1.20. The stock's 50 day moving average price is $59.15 and its 200-day moving average price is $67.50. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 1,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.