M&T Bank Corp Takes Position in Dayforce Inc (NYSE:DAY)

M&T Bank Corp bought a new position in Dayforce Inc (NYSE:DAY - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 8,246 shares of the company's stock, valued at approximately $505,000.

Several other institutional investors and hedge funds also recently bought and sold shares of DAY. Nomura Asset Management Co. Ltd. boosted its position in shares of Dayforce by 16.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 43,430 shares of the company's stock worth $2,660,000 after purchasing an additional 6,022 shares during the period. National Bank of Canada FI bought a new stake in shares of Dayforce during the third quarter valued at approximately $179,000. EdgePoint Investment Group Inc. lifted its holdings in shares of Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company's stock worth $650,726,000 after buying an additional 112,086 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Dayforce during the third quarter worth $1,513,000. Finally, Stifel Financial Corp grew its stake in Dayforce by 16.0% during the third quarter. Stifel Financial Corp now owns 5,001 shares of the company's stock valued at $306,000 after acquiring an additional 691 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on DAY. TD Cowen lifted their price objective on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Citigroup boosted their price target on shares of Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Needham & Company LLC upped their price target on shares of Dayforce from $82.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Jefferies Financial Group lifted their price objective 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. Finally, KeyCorp increased their price target on shares of Dayforce from $80.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $79.86.

Dayforce Stock Down 5.0 %

Shares of DAY stock traded down $3.87 during trading hours on Wednesday, reaching $73.59. 1,538,574 shares of the company's stock were exchanged, compared to its average volume of 1,599,843. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $11.61 billion, a PE ratio of 223.01, a PEG ratio of 3.68 and a beta of 1.26. The stock's fifty day moving average price is $73.76 and its two-hundred day moving average price is $61.24.

Insiders Place Their Bets

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was 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 owns 794,527 shares in the company, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares of the company's stock, valued at approximately $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 865,340 shares of company stock valued at $68,770,223. Insiders own 4.90% of the company's stock.

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.