Raymond James Financial Inc. Invests $1.76 Million in Dayforce Inc (NYSE:DAY)

Raymond James Financial Inc. purchased a new stake in Dayforce Inc (NYSE:DAY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,286 shares of the company’s stock, valued at approximately $1,764,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Dayforce in the fourth quarter valued at about $61,000. Federated Hermes Inc. bought a new stake in Dayforce in the 4th quarter valued at about $72,000. AlphaQuest LLC grew its position in shares of Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after purchasing an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after buying an additional 501 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Dayforce by 52.1% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $213,000 after buying an additional 1,002 shares during the period.

Insiders Place Their Bets

In other news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the sale, the executive vice president now directly owns 105,691 shares of the company’s stock, valued at $5,935,606.56. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samer Alkharrat sold 1,916 shares of the company’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the completion of the sale, the executive vice president now owns 150,237 shares of the company’s stock, valued at approximately $8,509,423.68. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.

Dayforce Trading Up 1.5 %

DAY opened at $58.71 on Friday. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 533.79, a PEG ratio of 2.49 and a beta of 1.20. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company’s 50 day moving average price is $56.53 and its two-hundred day moving average price is $66.91. 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 (NYSE:DAY) last announced its 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, research analysts predict that Dayforce Inc will post 1.48 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on DAY shares. Scotiabank lowered their price objective on Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Barclays dropped their price target on Dayforce from $69.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Mizuho reduced their price objective on shares of Dayforce from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. KeyCorp dropped their target price on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Dayforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.79.

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.