Fmr LLC Decreases Stake in Dayforce Inc (NYSE:DAY)

FMR LLC reduced its stake in Dayforce Inc (NYSE:DAY - Free Report) by 29.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 666,344 shares of the company's stock after selling 275,842 shares during the period. FMR LLC owned approximately 0.42% of Dayforce worth $40,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Financial Perspectives Inc purchased a new position in shares of Dayforce in the 2nd quarter worth $28,000. Quent Capital LLC purchased a new position in shares of Dayforce in the 3rd quarter worth $28,000. Sentry Investment Management LLC purchased a new position in shares of Dayforce in the 2nd quarter worth $33,000. Farther Finance Advisors LLC purchased a new position in shares of Dayforce in the 3rd quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Dayforce in the 2nd quarter worth $62,000.

Analyst Ratings Changes

DAY has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Needham & Company LLC lifted their price target on shares of Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. KeyCorp lifted their price target on shares of Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Mizuho lifted their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Citigroup lifted their price target on shares of Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $79.08.

Insider Transactions at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the 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 $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares of the company's stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the sale, the chief executive officer now directly owns 794,527 shares of the company's stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 865,340 shares of company stock valued at $68,770,223. Company insiders own 4.90% of the company's stock.

Dayforce Stock Up 0.8 %

Shares of DAY traded up $0.64 during mid-day trading on Monday, hitting $79.20. The company's stock had a trading volume of 1,235,197 shares, compared to its average volume of 1,611,475. The company's 50-day moving average is $71.43 and its 200-day moving average is $60.08. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 240.00, a PEG ratio of 3.69 and a beta of 1.26. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

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.