JPMorgan Chase & Co. reduced its stake in Dayforce Inc (NYSE:DAY - Free Report) by 88.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 230,898 shares of the company's stock after selling 1,791,475 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of Dayforce worth $16,772,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Dayforce in the fourth quarter worth $61,000. AlphaQuest LLC boosted its holdings in Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after acquiring an additional 1,036 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Dayforce by 69.0% during the fourth 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 period. National Bank of Canada FI acquired a new stake in shares of Dayforce in the third quarter valued at about $179,000. Finally, GAMMA Investing LLC increased its stake in shares of Dayforce by 52.1% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $213,000 after purchasing an additional 1,002 shares during the period.
Dayforce Price Performance
Shares of Dayforce stock traded down $1.25 during midday trading on Wednesday, hitting $54.56. 871,981 shares of the company were exchanged, compared to its average volume of 1,742,381. The firm has a 50 day simple moving average of $58.96 and a 200-day simple moving average of $67.42. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The firm has a market cap of $8.63 billion, a P/E ratio of 496.05, a PEG ratio of 2.49 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.
Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.03% and a return on equity of 6.49%. Research analysts forecast that Dayforce Inc will post 1.48 earnings per share for the current year.
Analysts Set New Price Targets
DAY has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Jefferies Financial Group reduced their price target on shares of Dayforce from $80.00 to $75.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Scotiabank decreased their price target 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. Finally, TD Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating and increased their target price for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.79.
Check Out Our Latest Research Report on DAY
Dayforce Company Profile
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Free Report)
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.
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