Cambridge Investment Research Advisors Inc. Lowers Holdings in Dayforce, Inc. (NYSE:DAY)

Cambridge Investment Research Advisors Inc. reduced its stake in shares of Dayforce, Inc. (NYSE:DAY) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,700 shares of the company’s stock after selling 6,709 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Dayforce were worth $799,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in shares of Dayforce by 3.6% during the 1st quarter. State of Alaska Department of Revenue now owns 18,630 shares of the company’s stock valued at $1,086,000 after purchasing an additional 645 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Dayforce by 38.6% in the first quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company’s stock valued at $214,000 after buying an additional 1,022 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Dayforce by 7.1% in the first quarter. Fifth Third Bancorp now owns 9,802 shares of the company’s stock worth $572,000 after acquiring an additional 648 shares during the period. USA Financial Formulas boosted its stake in shares of Dayforce by 32.5% during the 1st quarter. USA Financial Formulas now owns 4,086 shares of the company’s stock worth $238,000 after acquiring an additional 1,002 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Dayforce during the 1st quarter worth about $190,000.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 105,691 shares of the company’s stock, valued at $5,935,606.56. This represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samer Alkharrat sold 664 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $57.95, for a total value of $38,478.80. Following the sale, the executive vice president directly owned 132,266 shares of the company’s stock, valued at $7,664,814.70. The trade was a 0.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,580 shares of company stock valued at $259,321. 4.50% of the stock is owned by company insiders.

Dayforce Stock Up 3.1%

Shares of DAY opened at $57.22 on Monday. The stock has a fifty day simple moving average of $57.89 and a two-hundred day simple moving average of $61.39. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $9.15 billion, a PE ratio of 357.67, a price-to-earnings-growth ratio of 2.24 and a beta of 1.08. Dayforce, Inc. has a 52-week low of $47.08 and a 52-week high of $82.69.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Dayforce in a report on Monday, June 30th. KeyCorp reduced their target price on Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company cut shares of Dayforce from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $60.00 to $50.00 in a research note on Friday, June 13th. Scotiabank cut their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday, March 17th. Finally, Barclays cut their price objective on Dayforce from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.86.

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.