Scotia Capital Inc. Takes $509,000 Position in Dayforce Inc (NYSE:DAY)

Scotia Capital Inc. purchased a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,010 shares of the company's stock, valued at approximately $509,000.

Other large investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in Dayforce in the fourth quarter valued at about $61,000. Federated Hermes Inc. acquired a new position in shares of Dayforce during the fourth quarter worth $72,000. AlphaQuest LLC lifted its stake in shares of Dayforce by 14,800.0% in the 4th 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 last quarter. Smartleaf Asset Management LLC grew its position in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after acquiring an additional 501 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Dayforce during the third quarter valued at about $179,000.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the transaction, the executive vice president now directly owns 105,691 shares in the company, valued at $5,935,606.56. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Dayforce Stock Down 1.5 %

DAY traded down $0.84 during midday trading on Friday, reaching $54.16. 1,549,927 shares of the company were exchanged, compared to its average volume of 1,746,063. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. 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 company's fifty day moving average price is $58.30 and its 200 day moving average price is $67.24. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 492.38, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20.

Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts expect 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.