Raymond James Financial Inc. Takes Position in Dayforce Inc (NYSE:DAY)

Raymond James Financial Inc. acquired a new position in Dayforce Inc (NYSE:DAY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 24,286 shares of the company’s stock, valued at approximately $1,764,000.

Several other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in Dayforce in the 3rd quarter worth about $51,000. Smartleaf Asset Management LLC grew its holdings in Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after buying an additional 501 shares in the last quarter. National Bank of Canada FI acquired a new stake in Dayforce in the 3rd quarter valued at approximately $179,000. GAMMA Investing LLC raised its stake in Dayforce by 52.1% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $213,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Dayforce during the 3rd quarter worth $220,000.

Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on DAY. Stifel Nicolaus lowered their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and raised their target price for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Jefferies Financial Group reduced their price target on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (down from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Finally, Citigroup dropped their target price on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and an average target price of $77.86.

Dayforce Stock Performance

Shares of NYSE DAY opened at $58.42 on Tuesday. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 531.14, a PEG ratio of 2.49 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $63.07 and its 200 day simple moving average is $67.98.

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

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.