Fernwood Investment Management LLC Takes $1.45 Million Position in Dayforce Inc (NYSE:DAY)

Fernwood Investment Management LLC purchased a new stake in shares of Dayforce Inc (NYSE:DAY - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,640 shares of the company's stock, valued at approximately $1,448,000.

Several other institutional investors have also bought and sold shares of DAY. Select Equity Group L.P. bought a new stake in Dayforce in the second quarter worth about $721,310,000. Elo Mutual Pension Insurance Co bought a new position in Dayforce in the 2nd quarter valued at $673,000. State of New Jersey Common Pension Fund D purchased a new stake in Dayforce in the second quarter worth $2,760,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Dayforce during the second quarter worth $663,000. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Dayforce during the second quarter valued at $2,942,000.

Dayforce Stock Up 6.0 %

NYSE DAY traded up $4.28 during trading on Friday, hitting $75.23. The company's stock had a trading volume of 2,843,422 shares, compared to its average volume of 1,327,336. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $75.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.11. The company has a market cap of $11.86 billion, a PE ratio of 227.98, a P/E/G ratio of 2.56 and a beta of 1.27. The business's 50 day simple moving average is $61.11 and its 200-day simple moving average is $56.86.

Dayforce (NYSE:DAY - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 3.12% and a return on equity of 6.69%. The company had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. On average, equities analysts anticipate that Dayforce Inc will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 2,000 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the sale, the chief operating officer now directly owns 98,437 shares of the company's stock, valued at $6,816,762.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the sale, the chief operating officer now owns 98,437 shares of the company's stock, valued at $6,816,762.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the sale, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,643 shares of company stock valued at $307,617. Insiders own 4.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DAY shares. KeyCorp began coverage on shares of Dayforce in a research note on Tuesday, September 24th. They issued an "overweight" rating and a $70.00 price target on the stock. Barclays raised their target price on shares of Dayforce from $63.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $82.00 target price on shares of Dayforce in a research report on Thursday. Finally, TD Cowen boosted their price target on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $72.67.

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.