XTX Topco Ltd Decreases Holdings in Dayforce Inc (NYSE:DAY)

XTX Topco Ltd lessened its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 67.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,097 shares of the company's stock after selling 21,231 shares during the period. XTX Topco Ltd's holdings in Dayforce were worth $618,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Select Equity Group L.P. bought a new position in shares of Dayforce during the second quarter valued at about $721,310,000. EdgePoint Investment Group Inc. bought a new position in shares of Dayforce during the second quarter valued at about $521,396,000. Dragoneer Investment Group LLC bought a new position in shares of Dayforce during the second quarter valued at about $193,274,000. Dimensional Fund Advisors LP bought a new position in shares of Dayforce during the second quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. bought a new position in shares of Dayforce during the second quarter valued at about $49,600,000.

Insider Activity

In related news, CEO David D. Ossip sold 858,697 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at $63,204,622.85. The trade was a 51.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the business's 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 transaction, the insider now owns 34,074 shares of the company's stock, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,340 shares of company stock worth $68,770,223. Insiders own 4.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DAY. Needham & Company LLC raised their target price on Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. BMO Capital Markets raised their target price on Dayforce from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. KeyCorp raised their target price on Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Jefferies Financial Group raised their target price on Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Finally, Scotiabank began coverage on Dayforce in a research note on Monday, November 18th. They issued a "sector perform" rating and a $75.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $79.08.

Dayforce Stock Down 0.5 %

Shares of DAY stock traded down $0.36 during trading hours on Friday, hitting $77.17. 1,284,292 shares of the company's stock traded hands, compared to its average volume of 1,601,921. The stock's fifty day simple moving average is $72.78 and its two-hundred day simple moving average is $60.61. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of 234.15, a PEG ratio of 3.68 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

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.