Dayforce Inc (NYSE:DAY) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its holdings in Dayforce Inc (NYSE:DAY) by 11.0% during the third quarter, HoldingsChannel reports. The fund owned 6,083 shares of the company’s stock after buying an additional 602 shares during the period. HighTower Advisors LLC’s holdings in Dayforce were worth $368,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Chevy Chase Trust Holdings LLC acquired a new position in shares of Dayforce in the 3rd quarter valued at $5,192,000. Eventide Asset Management LLC purchased a new stake in Dayforce in the 3rd quarter valued at about $1,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Dayforce by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 980,692 shares of the company’s stock valued at $60,067,000 after buying an additional 34,731 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Dayforce during the third quarter valued at about $2,604,000. Finally, Quantbot Technologies LP increased its position in shares of Dayforce by 204.7% during the third quarter. Quantbot Technologies LP now owns 7,870 shares of the company’s stock valued at $482,000 after acquiring an additional 5,287 shares during the last quarter.

Dayforce Price Performance

Shares of DAY opened at $74.84 on Monday. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 226.79, a PEG ratio of 3.68 and a beta of 1.26. The firm’s fifty day simple moving average is $74.48 and its 200-day simple moving average is $61.76. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity at Dayforce

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the sale, the chief executive officer now directly owns 794,527 shares in the company, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,340 shares of company stock valued at $68,770,223 over the last three months. 4.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DAY. Citigroup increased their price objective on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Scotiabank assumed coverage on Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target for the company. Mizuho boosted their price objective on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC raised their target price on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $94.00 price target (up from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.86.

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.