Daiwa Securities Group Inc. Increases Stock Position in Dayforce Inc (NYSE:DAY)

Daiwa Securities Group Inc. raised its holdings in Dayforce Inc (NYSE:DAY) by 9.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,574 shares of the company’s stock after purchasing an additional 2,344 shares during the period. Daiwa Securities Group Inc.’s holdings in Dayforce were worth $1,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Select Equity Group L.P. purchased a new stake in shares of Dayforce in the second quarter valued at about $721,310,000. KBC Group NV purchased a new stake in shares of Dayforce in the third quarter valued at about $946,000. Adero Partners LLC purchased a new stake in shares of Dayforce in the third quarter valued at about $4,987,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Dayforce in the third quarter valued at about $19,273,000. Finally, Elo Mutual Pension Insurance Co purchased a new stake in shares of Dayforce in the second quarter valued at about $673,000.

Insider Buying and Selling

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction on Tuesday, October 15th. The shares were 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 owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at $6,428,062.69. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,340 shares of company stock valued at $68,770,223. Insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

DAY has been the topic of several recent research reports. KeyCorp upped their price target on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. TD Cowen upped their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets upped their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays upped their price objective on shares of Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Citigroup upped their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

Dayforce Stock Performance

Shares of DAY stock opened at $79.87 on Friday. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50 day moving average price of $68.98 and a 200 day moving average price of $59.39. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 242.03, a price-to-earnings-growth ratio of 3.84 and a beta of 1.27.

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.