Connor Clark & Lunn Investment Management Ltd. Takes $220,000 Position in Dayforce Inc (NYSE:DAY)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Dayforce Inc (NYSE:DAY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,600 shares of the company’s stock, valued at approximately $220,000.

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

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 shares were 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 approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the sale, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,340 shares of company stock worth $68,770,223. Insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

DAY has been the topic of a number of analyst reports. Scotiabank started coverage on shares of Dayforce in a research report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 price target on the stock. Barclays lifted 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. Needham & Company LLC raised their price objective on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. TD Cowen lifted their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.77.

Dayforce Price Performance

NYSE DAY opened at $79.99 on Monday. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The firm’s 50 day moving average is $69.40 and its 200-day moving average is $59.47. The company has a market capitalization of $12.61 billion, a PE ratio of 242.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.27. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

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.