Wealthfront Advisers LLC Purchases New Position in Dayforce Inc (NYSE:DAY)

Wealthfront Advisers LLC bought a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 166,643 shares of the company's stock, valued at approximately $12,105,000. Wealthfront Advisers LLC owned about 0.11% of Dayforce as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. EdgePoint Investment Group Inc. increased its holdings in Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company's stock valued at $650,726,000 after buying an additional 112,086 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Dayforce by 1.9% during the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company's stock worth $347,236,000 after buying an additional 103,794 shares during the period. Geode Capital Management LLC lifted its position in Dayforce by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company's stock worth $230,875,000 after purchasing an additional 30,302 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Dayforce by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company's stock worth $101,669,000 after purchasing an additional 4,584 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Dayforce by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 980,692 shares of the company's stock worth $60,067,000 after purchasing an additional 34,731 shares during the period.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.90% of the company's stock.

Dayforce Stock Down 1.8 %

Shares of DAY stock opened at $53.73 on Wednesday. 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 Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The firm's fifty day moving average price is $66.80 and its two-hundred day moving average price is $67.92. The firm has a market capitalization of $8.54 billion, a P/E ratio of 488.45, a PEG ratio of 2.49 and a beta of 1.33.

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Dayforce (NYSE:DAY - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.37 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%. On average, equities analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Cowen raised Dayforce from a "hold" rating to a "buy" rating and upped their price target for the company from $67.00 to $68.00 in a report on Friday, March 7th. Citigroup decreased their price target 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. Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating in a research report on Friday. Stifel Nicolaus dropped their price target on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, BMO Capital Markets increased their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Dayforce has a consensus rating of "Moderate Buy" and an average target price of $79.07.

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.

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