USA Financial Formulas Makes New Investment in Dayforce Inc (NYSE:DAY)

USA Financial Formulas acquired a new position in shares of Dayforce Inc (NYSE:DAY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,084 shares of the company’s stock, valued at approximately $224,000.

A number of other large investors also recently bought and sold shares of DAY. Select Equity Group L.P. purchased a new position in Dayforce during the 2nd quarter worth $721,310,000. EdgePoint Investment Group Inc. purchased a new position in shares of Dayforce in the 2nd quarter valued at about $521,396,000. Dragoneer Investment Group LLC purchased a new position in shares of Dayforce in the 2nd quarter valued at about $193,274,000. Dimensional Fund Advisors LP purchased a new position in shares of Dayforce in the 2nd quarter valued at about $51,027,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Dayforce in the 2nd quarter valued at about $19,579,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. 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 report on Wednesday, November 13th. Mizuho increased their price target on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $94.00 price target (up previously from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Finally, Jefferies Financial Group increased their price objective on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.07.

Insider Activity at Dayforce

In related news, CEO David D. Ossip sold 858,697 shares of the firm’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 transaction, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the transaction, the chief operating officer now owns 98,437 shares in the company, valued at $6,816,762.25. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 862,697 shares of company stock worth $68,601,106. Company insiders own 4.90% of the company’s stock.

Dayforce Price Performance

DAY opened at $70.17 on Friday. The company’s 50 day simple moving average is $75.75 and its 200 day simple moving average is $64.46. 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 has a market capitalization of $11.07 billion, a PE ratio of 212.63, a P/E/G ratio of 2.61 and a beta of 1.26.

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.