4,810 Shares in Dayforce Inc (NYSE:DAY) Purchased by Allstate Corp

Allstate Corp bought a new stake in Dayforce Inc (NYSE:DAY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,810 shares of the company’s stock, valued at approximately $349,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Dayforce by 18,250.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company’s stock worth $47,890,000 after acquiring an additional 657,013 shares during the period. Vanguard Group Inc. grew its holdings in Dayforce by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock valued at $1,258,072,000 after purchasing an additional 197,773 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Dayforce in the third quarter valued at $11,135,000. Wealthfront Advisers LLC purchased a new stake in shares of Dayforce in the 4th quarter worth about $12,105,000. Finally, Norges Bank purchased a new stake in shares of Dayforce in the 4th quarter worth about $10,278,000.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’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 value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on DAY. Piper Sandler restated an “overweight” rating and set a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th. Citigroup dropped their price target on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus reduced their price objective on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Cowen upgraded Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.86.

Dayforce Trading Up 1.7 %

Shares of DAY stock opened at $59.36 on Thursday. The firm’s 50-day simple moving average is $62.63 and its 200-day simple moving average is $67.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The firm has a market cap of $9.39 billion, a P/E ratio of 539.69, a PEG ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, equities analysts forecast that Dayforce Inc will post 1.48 EPS for the current year.

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.