Victory Capital Management Inc. Has $2.36 Million Stock Position in Dayforce Inc (NYSE:DAY)

Victory Capital Management Inc. cut its holdings in shares of Dayforce Inc (NYSE:DAY) by 35.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,581 shares of the company’s stock after selling 20,806 shares during the period. Victory Capital Management Inc.’s holdings in Dayforce were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the transaction, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,643 shares of company stock valued at $460,877. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DAY. Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Barclays boosted their price target on shares of Dayforce from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Citigroup raised their price objective on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price objective on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, KeyCorp lifted their price target on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

Dayforce Stock Performance

Shares of DAY opened at $79.79 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $67.31 and a 200-day moving average price of $58.81. The company has a market cap of $12.58 billion, a PE ratio of 241.80, a price-to-earnings-growth ratio of 3.70 and a beta of 1.27. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $81.32.

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.