Swedbank AB Acquires New Position in Dayforce Inc (NYSE:DAY)

Swedbank AB purchased a new position in Dayforce Inc (NYSE:DAY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 86,400 shares of the company's stock, valued at approximately $5,292,000. Swedbank AB owned 0.05% of Dayforce as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the 2nd quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. acquired a new stake in shares of Dayforce in the 2nd quarter valued at $521,396,000. Dragoneer Investment Group LLC bought a new position in shares of Dayforce in the 2nd quarter valued at $193,274,000. Charles Schwab Investment Management Inc. grew its position in Dayforce by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company's stock valued at $85,446,000 after acquiring an additional 8,506 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Dayforce during the 2nd quarter valued at $51,027,000.

Insider Buying and Selling

In related news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares of the company's stock, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is owned by corporate insiders.

Dayforce Stock Up 0.2 %

DAY stock traded up $0.19 during midday trading on Thursday, hitting $79.87. The company's stock had a trading volume of 1,509,923 shares, compared to its average volume of 1,620,566. The company has a market cap of $12.60 billion, a PE ratio of 242.03, a P/E/G ratio of 3.84 and a beta of 1.27. The firm's 50-day moving average is $68.58 and its 200-day moving average is $59.24. Dayforce Inc has a 12 month low of $47.08 and a 12 month 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DAY. Jefferies Financial Group lifted their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Mizuho lifted their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Needham & Company LLC increased their price objective on Dayforce from $82.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Dayforce from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, BMO Capital Markets increased their price target on Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.77.

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.