LPL Financial LLC Acquires 11,292 Shares of Dayforce Inc (NYSE:DAY)

LPL Financial LLC grew its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 51.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,079 shares of the company's stock after purchasing an additional 11,292 shares during the quarter. LPL Financial LLC's holdings in Dayforce were worth $2,403,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Dayforce by 18,250.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company's stock worth $47,890,000 after purchasing an additional 657,013 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Dayforce during the 3rd quarter worth $11,135,000. Wealthfront Advisers LLC acquired a new position in shares of Dayforce in the 4th quarter valued at $12,105,000. LBP AM SA boosted its position in shares of Dayforce by 314.0% in the 4th quarter. LBP AM SA now owns 137,911 shares of the company's stock worth $10,018,000 after purchasing an additional 104,598 shares during the last quarter. Finally, Amundi grew its stake in shares of Dayforce by 25.1% during the fourth quarter. Amundi now owns 487,630 shares of the company's stock worth $34,197,000 after purchasing an additional 97,915 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cowen raised Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Jefferies Financial Group decreased their price objective 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. Citigroup cut their target price on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus lowered their price objective on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, Scotiabank reduced their target price on Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $76.79.

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Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company's stock.

Dayforce Stock Performance

DAY traded down $0.39 during trading on Tuesday, hitting $55.77. The stock 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 current ratio of 1.13 and a quick ratio of 1.15. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 507.02, a P/E/G ratio of 2.49 and a beta of 1.20. The company has a 50 day moving average price of $59.15 and a 200-day moving average price of $67.50. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69.

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

Dayforce Company 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.