Two Sigma Advisers LP Invests $661,000 in Dayforce Inc (NYSE:DAY)

Two Sigma Advisers LP purchased a new position in shares of Dayforce Inc (NYSE:DAY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,100 shares of the company’s stock, valued at approximately $661,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Dayforce during the 4th quarter worth about $61,000. Federated Hermes Inc. acquired a new stake in Dayforce in the 4th quarter worth approximately $72,000. AlphaQuest LLC boosted its position in Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after purchasing an additional 1,036 shares during the period. Smartleaf Asset Management LLC grew its holdings in Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in Dayforce during the fourth quarter valued at approximately $169,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DAY. KeyCorp reduced their price objective on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group reiterated a “hold” rating on shares of Dayforce in a report on Friday, May 23rd. Mizuho dropped their target price on shares of Dayforce from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. BMO Capital Markets lifted their target price on shares of Dayforce from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Citigroup increased their target price on shares of Dayforce from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Dayforce has an average rating of “Moderate Buy” and an average target price of $71.54.

Dayforce Stock Up 1.2%

NYSE DAY opened at $58.95 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The firm has a 50-day simple moving average of $56.75 and a 200 day simple moving average of $64.81. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a market cap of $9.42 billion, a PE ratio of 535.96, a PEG ratio of 2.49 and a beta of 1.12.

Insider Buying and Selling

In related news, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction dated 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 owns 150,237 shares of the company’s stock, valued at $8,509,423.68. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction 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 trade 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 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.