Legal & General Group Plc Cuts Holdings in Dayforce Inc (NYSE:DAY)

Legal & General Group Plc cut its stake in shares of Dayforce Inc (NYSE:DAY - Free Report) by 34.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 413,045 shares of the company's stock after selling 219,718 shares during the period. Legal & General Group Plc owned about 0.26% of Dayforce worth $30,004,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Dayforce during the fourth quarter valued at about $61,000. Federated Hermes Inc. bought a new position in shares of Dayforce during the 4th quarter worth approximately $72,000. AlphaQuest LLC lifted its position in shares of Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after buying an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after buying an additional 501 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Dayforce in the third quarter valued at approximately $179,000.

Insider Transactions at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the transaction, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. This represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company's stock.

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Dayforce Price Performance

NYSE DAY traded down $0.39 during trading hours on Tuesday, hitting $55.77. The company had a trading volume of 1,549,115 shares, compared to its average volume of 1,745,628. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 507.02, a PEG ratio of 2.49 and a beta of 1.20. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The firm has a 50 day simple moving average of $58.96 and a 200 day simple moving average of $67.42.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 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%. Equities research analysts expect that Dayforce Inc will post 1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DAY. TD Cowen upgraded Dayforce from a "hold" rating to a "buy" rating and lifted their price target for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Stifel Nicolaus lowered their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Barclays reduced their price target on shares of Dayforce from $80.00 to $69.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $80.00 price objective (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group reduced their target price on shares of Dayforce from $80.00 to $75.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.79.

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.