Charles Schwab Investment Management Inc. Acquires 8,506 Shares of Dayforce Inc (NYSE:DAY)

Charles Schwab Investment Management Inc. increased its holdings in shares of Dayforce Inc (NYSE:DAY) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,395,044 shares of the company’s stock after purchasing an additional 8,506 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Dayforce were worth $85,446,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Select Equity Group L.P. bought a new stake in shares of Dayforce during the second quarter worth $721,310,000. KBC Group NV bought a new stake in Dayforce during the 3rd quarter worth $946,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Dayforce in the 3rd quarter worth about $19,273,000. Adero Partners LLC acquired a new stake in shares of Dayforce during the third quarter valued at about $4,987,000. Finally, Elo Mutual Pension Insurance Co acquired a new stake in shares of Dayforce during the second quarter valued at about $673,000.

Dayforce Price Performance

Shares of DAY opened at $79.87 on Thursday. The firm has a market cap of $12.60 billion, a PE ratio of 242.03, a price-to-earnings-growth ratio of 3.84 and a beta of 1.27. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The business’s 50 day moving average price is $68.58 and its two-hundred day moving average price is $59.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15.

Insider Activity

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 34,074 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,340 shares of company stock worth $68,770,223 in the last quarter. 4.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DAY. KeyCorp raised their price objective on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised their price target on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. TD Cowen lifted their price target on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Mizuho increased their price objective on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, BMO Capital Markets lifted their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

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.