Ameriprise Financial Inc. Reduces Position in Dayforce Inc (NYSE:DAY)

Ameriprise Financial Inc. cut its position in shares of Dayforce Inc (NYSE:DAY) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,430 shares of the company’s stock after selling 2,035 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.06% of Dayforce worth $6,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DAY. SG Americas Securities LLC grew its holdings in shares of Dayforce by 167.7% during the fourth quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock worth $1,404,000 after buying an additional 12,103 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Dayforce by 20.0% in the fourth quarter. Pacer Advisors Inc. now owns 13,929 shares of the company’s stock valued at $1,012,000 after purchasing an additional 2,326 shares during the period. Forsta AP Fonden purchased a new stake in shares of Dayforce in the fourth quarter valued at $2,673,000. Oak Harvest Investment Services purchased a new stake in shares of Dayforce in the fourth quarter valued at $726,000. Finally, E. Ohman J or Asset Management AB grew its position in shares of Dayforce by 37.3% in the fourth quarter. E. Ohman J or Asset Management AB now owns 8,100 shares of the company’s stock valued at $588,000 after purchasing an additional 2,200 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DAY. Barclays lowered their price objective on Dayforce from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Jefferies Financial Group lowered their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of Dayforce from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets boosted their target price on shares of Dayforce from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.54.

Insider Transactions at Dayforce

In other news, EVP Samer Alkharrat sold 1,916 shares of the company’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $56.64, for a total value of $108,522.24. Following the completion of the transaction, the executive vice president now directly owns 150,237 shares in the company, valued at approximately $8,509,423.68. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Dayforce Price Performance

Shares of NYSE DAY opened at $57.22 on Friday. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The business has a 50-day moving average of $56.87 and a 200-day moving average of $65.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 520.27, a PEG ratio of 2.49 and a beta of 1.17.

About Dayforce

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.