Victory Capital Management Inc. Reduces Holdings in Dayforce Inc (NYSE:DAY)

Victory Capital Management Inc. lowered its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 39.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,526 shares of the company's stock after selling 15,055 shares during the period. Victory Capital Management Inc.'s holdings in Dayforce were worth $1,709,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in Dayforce by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company's stock worth $101,669,000 after acquiring an additional 4,584 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings 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 in the last quarter. Metis Global Partners LLC grew its holdings in Dayforce by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company's stock worth $382,000 after acquiring an additional 193 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Dayforce by 38.4% during the 4th quarter. Fisher Asset Management LLC now owns 55,361 shares of the company's stock worth $4,021,000 after acquiring an additional 15,359 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Dayforce during the 4th quarter worth approximately $227,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $95.00 price target on shares of Dayforce in a report on Thursday, February 6th. Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Scotiabank lowered their target price on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Citigroup lowered their target price on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, TD Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating and upped their target price for the company from $67.00 to $68.00 in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $77.86.

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Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. This represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.90% of the stock is owned by corporate insiders.

Dayforce Trading Up 1.3 %

Shares of Dayforce stock traded up $0.76 during mid-day trading on Friday, hitting $58.40. 4,719,803 shares of the stock were exchanged, compared to its average volume of 1,678,530. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 530.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a 50-day simple moving average of $64.35 and a 200 day simple moving average of $67.68. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. Research analysts forecast 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.