Cibc World Markets Corp Boosts Stock Position in Dayforce Inc (NYSE:DAY)

Cibc World Markets Corp grew its stake in shares of Dayforce Inc (NYSE:DAY) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,917 shares of the company’s stock after buying an additional 3,485 shares during the period. Cibc World Markets Corp’s holdings in Dayforce were worth $1,810,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. lifted its holdings in Dayforce by 1.1% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after purchasing an additional 112,086 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Dayforce by 1.9% in the 3rd quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock worth $347,236,000 after purchasing an additional 103,794 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Dayforce by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock worth $230,875,000 after purchasing an additional 30,302 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Dayforce by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company’s stock worth $101,669,000 after purchasing an additional 4,584 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Dayforce by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 980,692 shares of the company’s stock worth $60,067,000 after purchasing an additional 34,731 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DAY shares. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target on shares of Dayforce in a report on Thursday, February 6th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Stifel Nicolaus decreased their price objective on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Citigroup decreased their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Cowen raised Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.86.

Dayforce Stock Performance

NYSE DAY opened at $58.40 on Friday. The company has a market cap of $9.24 billion, a P/E ratio of 530.94, a P/E/G ratio of 2.49 and a beta of 1.33. 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 business’s 50 day moving average price is $64.35 and its 200-day moving average price is $67.68. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Sell-side analysts predict that Dayforce Inc will post 1.48 earnings per share for the current year.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.90% 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.