Fifth Third Bancorp Increases Position in Dayforce, Inc. (NYSE:DAY)

Fifth Third Bancorp raised its position in Dayforce, Inc. (NYSE:DAY) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,802 shares of the company’s stock after purchasing an additional 648 shares during the quarter. Fifth Third Bancorp’s holdings in Dayforce were worth $572,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after acquiring an additional 501 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Dayforce during the fourth quarter worth $1,314,000. Raymond James Financial Inc. purchased a new stake in shares of Dayforce during the fourth quarter worth $1,764,000. QRG Capital Management Inc. purchased a new stake in shares of Dayforce during the fourth quarter worth $227,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Dayforce during the fourth quarter worth $72,000.

Insider Buying and Selling at Dayforce

In other 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 transaction of $108,522.24. Following the completion of the sale, the executive vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the executive vice president now 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. 4.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DAY shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Dayforce in a research report on Friday, May 23rd. UBS Group increased their target price on Dayforce from $68.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, June 5th. KeyCorp dropped their target price on Dayforce from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Mizuho dropped their target price on Dayforce from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered Dayforce from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $60.00 to $50.00 in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and an average target price of $70.86.

Dayforce Stock Performance

NYSE DAY opened at $56.88 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.02 and a quick ratio of 1.02. Dayforce, Inc. has a 1 year low of $47.08 and a 1 year high of $82.69. The company has a market capitalization of $9.09 billion, a PE ratio of 355.52, a P/E/G ratio of 2.26 and a beta of 1.12. The company has a fifty day moving average of $57.61 and a two-hundred day moving average of $63.46.

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.