Alpine Associates Management Inc. Invests $10.61 Million in Dayforce, Inc. $DAY

Alpine Associates Management Inc. bought a new stake in shares of Dayforce, Inc. (NYSE:DAY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 153,962 shares of the company’s stock, valued at approximately $10,606,000. Alpine Associates Management Inc. owned approximately 0.10% of Dayforce as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in Dayforce by 82.6% during the third quarter. UMB Bank n.a. now owns 431 shares of the company’s stock valued at $30,000 after acquiring an additional 195 shares during the period. MUFG Securities EMEA plc bought a new stake in Dayforce during the 2nd quarter valued at approximately $26,000. Quent Capital LLC purchased a new position in Dayforce in the 3rd quarter worth approximately $34,000. Assetmark Inc. boosted its stake in Dayforce by 701.4% in the 2nd quarter. Assetmark Inc. now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 491 shares during the period. Finally, Federated Hermes Inc. bought a new position in Dayforce in the 3rd quarter worth approximately $47,000.

Dayforce Trading Up 1.5%

Shares of DAY stock opened at $69.97 on Thursday. The company has a market cap of $11.20 billion, a PE ratio of -74.44, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $72.28. The stock’s 50 day simple moving average is $69.33 and its two-hundred day simple moving average is $67.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DAY shares. Weiss Ratings reissued a “sell (d)” rating on shares of Dayforce in a report on Monday, December 29th. UBS Group downgraded shares of Dayforce from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Dayforce in a report on Thursday, October 30th. Finally, Zacks Research upgraded Dayforce from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Dayforce has a consensus rating of “Hold” and a consensus price target of $70.36.

Insider Buying and Selling

In other news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $68.87, for a total value of $137,740.00. Following the sale, the chief operating officer directly owned 178,814 shares in the company, valued at approximately $12,314,920.18. This represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 500 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $69.36, for a total value of $34,680.00. Following the completion of the transaction, the insider directly owned 48,901 shares in the company, valued at $3,391,773.36. This trade represents a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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. The company also provides payroll and payroll-related services; and implementation and professional services.