Dynamic Technology Lab Private Ltd Buys New Shares in Dayforce Inc (NYSE:DAY)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Dayforce Inc (NYSE:DAY) in the 4th quarter, Holdings Channel reports. The fund purchased 11,326 shares of the company’s stock, valued at approximately $823,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Dayforce in the 3rd quarter valued at approximately $51,000. Harvest Fund Management Co. Ltd bought a new stake in Dayforce during the fourth quarter worth $61,000. AlphaQuest LLC lifted its stake in Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after acquiring an additional 501 shares during the period. Finally, National Bank of Canada FI acquired a new position in shares of Dayforce during the 3rd quarter worth about $179,000.

Analyst Ratings Changes

Several brokerages recently issued reports on DAY. Stifel Nicolaus cut their target price on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Barclays reduced their target price on Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Cowen upgraded Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Scotiabank reduced their price objective on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $77.86.

Insider Transactions at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Dayforce Stock Performance

Shares of NYSE:DAY opened at $51.40 on Monday. The company’s 50 day simple moving average is $61.97 and its 200 day simple moving average is $67.89. 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 stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 467.32, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS 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, research analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal 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.