Tidal Investments LLC Grows Position in Dayforce Inc (NYSE:DAY)

Tidal Investments LLC raised its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 85.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,359 shares of the company's stock after purchasing an additional 13,078 shares during the quarter. Tidal Investments LLC's holdings in Dayforce were worth $1,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DAY. Select Equity Group L.P. acquired a new stake in Dayforce in the 2nd quarter valued at about $721,310,000. EdgePoint Investment Group Inc. purchased a new position in shares of Dayforce during the 2nd quarter worth $521,396,000. Dragoneer Investment Group LLC acquired a new position in shares of Dayforce during the 2nd quarter valued at about $193,274,000. Dimensional Fund Advisors LP purchased a new stake in shares of Dayforce in the second quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. acquired a new stake in Dayforce during the second quarter worth about $49,600,000.

Insiders Place Their Bets

In related news, insider Jeffrey Scott Jacobs sold 643 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 transaction of $40,746.91. Following the transaction, the insider now owns 34,074 shares of the company's stock, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David D. Ossip sold 858,697 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the sale, the chief executive officer now directly owns 794,527 shares of the company's stock, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 865,340 shares of company stock valued at $68,770,223 over the last quarter. Company insiders own 4.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays increased their price target on Dayforce from $80.00 to $84.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Mizuho boosted their price target on shares of Dayforce from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. BMO Capital Markets increased their price objective on shares of Dayforce from $80.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Needham & Company LLC boosted their target price on Dayforce from $82.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Piper Sandler restated an "overweight" rating and set a $94.00 price target (up from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Six investment 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 company has an average rating of "Moderate Buy" and an average target price of $79.86.

Dayforce Stock Down 5.0 %

DAY stock traded down $3.87 during midday trading on Wednesday, reaching $73.59. 1,538,574 shares of the company were exchanged, compared to its average volume of 1,599,843. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 223.01, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The stock's 50-day simple moving average is $73.99 and its 200 day simple moving average is $61.32.

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.