Toronto Dominion Bank Increases Stock Position in Dayforce Inc (NYSE:DAY)

Toronto Dominion Bank grew its holdings in shares of Dayforce Inc (NYSE:DAY - Free Report) by 17.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,305 shares of the company's stock after acquiring an additional 8,035 shares during the quarter. Toronto Dominion Bank's holdings in Dayforce were worth $3,265,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DAY. Candriam S.C.A. bought a new position in shares of Dayforce in the 2nd quarter worth $6,027,000. New Mexico Educational Retirement Board bought a new position in shares of Dayforce in the second quarter valued at $392,000. Acadian Asset Management LLC acquired a new position in shares of Dayforce during the second quarter valued at about $287,000. Prudential PLC acquired a new stake in shares of Dayforce in the 2nd quarter worth about $490,000. Finally, Texas Permanent School Fund Corp bought a new position in Dayforce in the 2nd quarter valued at about $1,281,000.

Insider Activity

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction 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 owns 794,527 shares in the company, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is currently owned by insiders.

Dayforce Price Performance

DAY traded up $0.17 during trading on Monday, reaching $77.34. 1,462,341 shares of the company were exchanged, compared to its average volume of 1,601,344. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 233.85, a P/E/G ratio of 3.68 and a beta of 1.26. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The company's 50-day moving average is $73.09 and its two-hundred day moving average is $60.85.

Analyst Upgrades and Downgrades

DAY has been the topic of several recent analyst reports. Mizuho raised their price objective on Dayforce from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Needham & Company LLC boosted their price target on shares of Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Barclays lifted their target price on shares of Dayforce from $80.00 to $84.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $94.00 target price (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price target on Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Dayforce presently has an average rating of "Moderate Buy" and an average target price of $79.08.

Dayforce 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.