Fmr LLC Sells 275,842 Shares of Dayforce Inc (NYSE:DAY)

Fmr LLC reduced its stake in shares of Dayforce Inc (NYSE:DAY) by 29.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 666,344 shares of the company’s stock after selling 275,842 shares during the quarter. Fmr LLC owned 0.42% of Dayforce worth $40,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quent Capital LLC bought a new position in shares of Dayforce in the 3rd quarter valued at $28,000. Financial Perspectives Inc bought a new stake in Dayforce in the second quarter valued at approximately $28,000. Farther Finance Advisors LLC acquired a new stake in Dayforce during the 3rd quarter valued at approximately $40,000. Sentry Investment Management LLC bought a new position in Dayforce during the 2nd quarter worth approximately $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Dayforce in the 3rd quarter worth approximately $74,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DAY. Mizuho lifted their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price objective on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets upped their target price on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $94.00 target price (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Finally, Scotiabank began coverage on Dayforce in a report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce has a consensus rating of “Moderate Buy” and an average target price of $79.08.

Dayforce Stock Up 1.7 %

Dayforce stock opened at $78.56 on Monday. The company has a current ratio of 1.15, 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 has a market capitalization of $12.39 billion, a price-to-earnings ratio of 238.07, a price-to-earnings-growth ratio of 3.79 and a beta of 1.26. The firm’s fifty day moving average price is $71.43 and its two-hundred day moving average price is $60.08.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $76.26, for a total value of $76,260.00. Following the completion of the sale, the chief operating officer now directly owns 121,022 shares of the company’s stock, valued at approximately $9,229,137.72. This represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 865,340 shares of company stock worth $68,770,223. Insiders own 4.90% of the company’s stock.

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.