Artisan Partners Limited Partnership Trims Stake in Dayforce Inc (NYSE:DAY)

Artisan Partners Limited Partnership decreased its holdings in shares of Dayforce Inc (NYSE:DAY) by 5.4% during the fourth quarter, HoldingsChannel reports. The firm owned 986,504 shares of the company’s stock after selling 56,562 shares during the period. Artisan Partners Limited Partnership’s holdings in Dayforce were worth $71,660,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in shares of Dayforce during the third quarter worth about $11,135,000. Smartleaf Asset Management LLC grew its holdings in Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares during the period. Retirement Systems of Alabama purchased a new stake in Dayforce during the 3rd quarter worth approximately $2,105,000. SG Americas Securities LLC increased its position in shares of Dayforce by 167.7% during the fourth quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock worth $1,404,000 after purchasing an additional 12,103 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Dayforce by 31.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock worth $1,398,000 after buying an additional 4,596 shares in the last quarter.

Insider Transactions at Dayforce

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

Dayforce Stock Performance

DAY opened at $59.71 on Friday. The business has a fifty day simple moving average of $63.51 and a 200-day simple moving average of $67.83. The firm has a market cap of $9.45 billion, a PE ratio of 542.83, a P/E/G ratio of 2.49 and a beta of 1.33. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. As a group, equities analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $68.00 in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price on shares of Dayforce in a report on Thursday, February 6th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Finally, Citigroup cut their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.86.

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.