US Bancorp DE Boosts Holdings in Dayforce Inc (NYSE:DAY)

US Bancorp DE raised its stake in shares of Dayforce Inc (NYSE:DAY) by 66.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,363 shares of the company’s stock after buying an additional 942 shares during the quarter. US Bancorp DE’s holdings in Dayforce were worth $145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Needham & Company LLC increased their target price on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised their target price on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and issued a $94.00 price objective (up from $82.00) on shares of Dayforce in a research report on Wednesday. Finally, Mizuho raised their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Stock Down 2.8 %

Shares of NYSE DAY opened at $74.56 on Friday. The stock has a market capitalization of $11.76 billion, a PE ratio of 226.52, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $81.32. The stock’s fifty day simple moving average is $65.04 and its two-hundred day simple moving average is $58.09.

Insider Buying and Selling at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction on 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 directly owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the sale, the chief operating officer now owns 122,022 shares of the company’s stock, valued at approximately $9,395,694. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock worth $384,617 over the last quarter. 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.