Creative Planning Buys New Shares in Dayforce Inc (NYSE:DAY)

Creative Planning purchased a new position in Dayforce Inc (NYSE:DAY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,563 shares of the company’s stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DAY. Select Equity Group L.P. bought a new stake in shares of Dayforce during the 2nd quarter valued at $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in Dayforce in the 2nd quarter worth $521,396,000. Dragoneer Investment Group LLC bought a new stake in Dayforce during the second quarter valued at about $193,274,000. Dimensional Fund Advisors LP purchased a new position in shares of Dayforce in the second quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. bought a new position in shares of Dayforce in the second quarter worth about $49,600,000.

Dayforce Price Performance

NYSE:DAY opened at $65.00 on Friday. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 196.97, a PEG ratio of 2.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $58.61 and a 200-day simple moving average of $56.60. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $74.66.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The company had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Equities analysts forecast that Dayforce Inc will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of Dayforce in a research report on Wednesday, July 31st. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $71.00 in a report on Wednesday, July 31st. Citigroup increased their price objective on shares of Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company reduced their target price on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Dayforce presently has a consensus rating of “Moderate Buy” and an average price target of $70.18.

Insider Transactions at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the sale, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

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.