Exchange Traded Concepts LLC Takes Position in Dayforce Inc (NYSE:DAY)

Exchange Traded Concepts LLC purchased a new stake in shares of Dayforce Inc (NYSE:DAY) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,532 shares of the company’s stock, valued at approximately $278,000.

A number of other large investors also recently modified their holdings of the business. Quent Capital LLC acquired a new position in shares of Dayforce during the third quarter valued at $28,000. Financial Perspectives Inc acquired a new position in shares of Dayforce during the second quarter valued at $28,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce during the second quarter valued at $33,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Dayforce during the third quarter valued at $74,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Dayforce during the second quarter valued at $62,000.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Piper Sandler raised Dayforce from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. TD Cowen lifted their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Dayforce in a report on Wednesday, July 31st. Finally, KeyCorp assumed coverage on Dayforce in a report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 target price on the stock. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued 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.

Dayforce Trading Up 1.7 %

Shares of DAY opened at $65.00 on Monday. The business’s 50-day moving average price is $58.61 and its 200 day moving average price is $56.49. The stock has a market capitalization of $10.26 billion, a P/E ratio of 196.97, a P/E/G ratio of 2.23 and a beta of 1.29. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $74.66. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Insider Buying and Selling at Dayforce

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

Dayforce Company 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.